Shein, the Chinese fast fashion giant that’s quickly become the third-most valuable startup in the world, is seeing a reality check. Its sales growth is slowing from the lofty heights of the pandemic, just as it faces mounting pressure to live up to a $100 billion valuation.
The online-only retailer sells inexpensive clothes, beauty and lifestyle products. It has become a global phenomenon, with a following of mostly tweens and teenagers in the West making its app one of the most downloaded in the world.