Shein shifts strategy after $74 billion valuation plunge

Shein is looking to acquire or partner with fashion brands and use its fast-turnaround China supply chain to boost their sales and margins as growth in its own label slows. The shift comes after its valuation fell from $100 billion in 2022 to just over $26 billion in its Hong Kong IPO, which raised about $1.7 billion.

Source: Bloomberg