Shein Raises $2 Billion in Funding

Shein is a Chinese online fast fashion and lifestyle retailer. It ships products to more than 150 countries, mainly focusing on Europe, America, Australia, and the Middle East. In order to streamline its international operations, Shein has recently announced the opening of headquarters in Dublin and Ireland.

Shein has secured $2 billion in funding. The fresh funding was secured from American equity firms Sequoia Capital and General Atlantic, as well as the Emirati holding company Mubadala.  The new funding round has valued the company at $66 billion. Shein remains optimistic about its prospects, leveraging its strong brand, and various product offerings. 

Shein, headquartered in Singapore, was founded by entrepreneur and search engine optimization marketing specialist Chris Xu in 2008. In May of 2021, Shein became the most downloaded shopping app on iOS and Android in the United States, with Amazon coming in second. Relatively low prices and discounts applied to the next shopping trip stimulate user growth. Such items of stylish clothing as $10 dresses and $5 tops help draw millions of visitors to its website each month.

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