Is Shein Closing 2024?

Overview Of Shein

Shein is a B2C fast fashion company that was founded by Chris Xu in October 2008. The brand is known for selling affordable and stylish clothing & accessories for men & women.

Shein’s History

Xu established an e-commerce site named SheInside and began selling wedding dresses in 2008, but eventually, he switched to selling fast-fashion items & renamed the brand as Shein.

Shein Files For Confidential IPO

Shein, the fast-fashion giant, has reportedly filed for a confidential IPO that is expected to be launched in 2024.

Shein’s Net Worth

In 2022, Shein raised $1 billion in a funding round, which led to the company’s valuation at $100 billion. This number is more than the value of H&M and Zara combined.

How Does Shein Make Revenue?

So when it comes to the revenue part, Shein receives most of its e-commerce sales from the “Fashion” category, followed by the “Furniture & appliance” category.

Is Shein Closing?

Shein been banned from Countries like India, but in spite of all this, Shein has been performing great and is definitely not closing down anytime soon.