Chinese fast-fashion retailer Shein has shed up to one-third of its value in private markets in recent months after reaching a valuation of more than $100bn earlier this year, said people briefed about the matter.
The rapidly expanding retailer, which sells cheap clothes and lifestyle products targeting Gen-Z shoppers mainly in the west and the Middle East, has been valued at $65bn-$85bn in private markets, according to three people with knowledge of the situation.
The cut-price share sales come as venture capital and private equity funds are trying to liquidate capital following a rout in global equity markets, which has been particularly bruising for tech companies.
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