Shein, the online fast-fashion giant, has seen its profits more than double, reaching over $2 billion for 2023 and recording about $45 billion in gross merchandise value. The company is awaiting regulatory approval from Beijing for its blockbuster IPO. This marks a significant increase from its previous profits of $700 million in 2021 and $1.2 billion in 2022. Shein's success comes amid concerns about the quality of its products, with reports of lead in its clothes.
SHEIN official results in 2023: $45 billions revenue and $2 bn net profits! They should IPO this year with a $90bn valuation. They are going after Zara after having overcome H&M and Primark. (although Zara is going upmarket).
Shein doubled profits last year to more than $2B ahead of public debut https://t.co/2gooPN4FGr https://t.co/nDBnAkb624
Fast fashion retailer Shein more than doubles profits as it awaits IPO approval https://t.co/KcWMgwZmTx
π¨π³ Shein made $2 billion in profits last year. That's a lot of fast fashion. https://t.co/WAfCpjmzh5
Shein posts over 2x profit growth to $2b ahead of IPO https://t.co/a9nCLrpbMT
Shein made $2 billion in profits last year. That's a lot of fast fashion. https://t.co/VI1RPqHx17
π¨π³ Shein profits double to over $2bn ahead of planned listing https://t.co/mKssCBhhLP
Shein hit a record of more than $2bn in profits for 2023 and recorded roughly $45bn in gross merchandise value, the total value of sold goods on its website 2021 700M profit 2022 $1.2B profit
Shein clothes are full of lead. https://t.co/PlLm7Rafy0
"Online fast-fashion giant #Shein has more than doubled its profits as it awaits regulatory approval from Beijing to go ahead with its blockbuster IPO...Shein hit a record of >$2B in profits for 2023 & recorded roughly $45B in gross merchandise value" https://t.co/SrBtYn7BXN
Shein profits double to over $2bn ahead of planned listing