© Reuters. A Shein logo is pictured at the company’s office in the central business district of Singapore, October 18, 2022. REUTERS/Chen Lin/File Photo
(Reuters) – China-founded fashion company Shein has confidentially filed to go public in the United States, two sources familiar with the matter told Reuters on Monday.
Here are some key facts:
WHO IS SHEIN?
Founded by Chinese entrepreneur Chris Xu in 2012, Shein has since grown into a global fashion marketplace, serving customers in more than 150 countries and employing with more than 11,000 people, according to its website.
Churning out thousands of new designs a day, Shein has a direct-selling model that targets its millions of social-media followers and makes heavy use of influencers and discount codes.
Shein, known for its $10 tops and $5 biker shorts, says it has more than 250 million followers on social media, and a portfolio of 10 brands including Romwe, MOTF and Cuccoo.
It does not disclose its revenue publicly but sources say the company made around 100 billion yuan ($15.7 billion) in 2021.
BUSINESS MODEL
Shein produces clothing in China to sell online in the United States, Europe and Asia excluding China.
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