Bigger than H&M
It is an understatement to call Shein a rising star in the fashion firmament: the unicorn made 23 billion dollars in sales last year, accounting for a growth of 46 %. That is already more than H&M’s 22 billion, and an unprecedented increase in the inflation-plagued apparel market. By 2025, the clothing retailer is targeting 59 billion dollar in sales.
Shein raised two billion dollars in growth money just a month ago, and now the company wants to go public. However, authorities in the United States do have reservations about that, Reuters reports. Especially in the context of the trade war between the US and China, the specialist in ultra-fast fashion has some charming to do.
