Shein, the one-time cheap clothing colossus, has announced its plans for an IPO. If you could look at it from the vantage point of a few years ago, the valuation Shein is currently shooting for is, well, not great.
The Wall Street Journal wrote in 2022, back when Shein was on top of the world, that it had just received a funding round of $1-2 billion that placed its value at $100 billion. According to Reuters yesterday, its latest plans value it at a little over a quarter of that: $27 billion.
The Nanjing-founded, Singapore-headquartered, but largely Guangzhou factory-powered apparel company started out as a wedding dress company in 2008, but…
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