“We are aware of them, but it doesn’t worry us in the slightest,” Kamani concluded.
Anyone older than Generation Z likely would have had the same response until recently. But make no mistake. Like Boohoo — whose shares are down by more than 60% since that call, in the face of Shein’s eye-watering competition — we’re all likely to feel the impact of its $5 dresses and $10 jeans very soon.
The retail juggernaut is weighing a funding round at a valuation of $100 billion, and is in talks with investors including General Atlantic about raising roughly $1 billion, people familiar with the matter told Bloomberg News this week.
Those numbers aren’t particularly outlandish. Shein may post $20 billion in revenue in 2022, according to Morgan Stanley, enough to overtake Fast Retailing Co. to make it the world’s fourth-biggest apparel retailer. Valuations of at least five times sales are more or less a rite of passage for fast fashion…
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You can Read this Complete Story at:
https://www.washingtonpost.com/business/sheins-100-billion-valuation-is-a-win-for-fast-fashion/2022/04/04/96252a40-b3f1-11ec-8358-20aa16355fb4_story.html
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2022-04-04 08:35:48
