Shein, the Chinese ultra-fast fashion group, is targeting a US$60 billion revenue by 2025 as part of its effort to reassure investors ahead of a possible IPO this year, Financial Times reported, citing Shein’s management presentation.
Specifically, Shein targets its annual revenue to reach US$58.5 billion in 2025, which means doubling its 2022 revenue of US$22.7 billion.
The company also expects that its gross merchandise value will amount to US$80.6 billion in 2025 – up 174% from 2022 – with a profit target of US$7.5 billion.
Financial Times reported in January that Shein was in talks to raise up to US$3 billion at a marked-down valuation of US$64 billion.
Shein moved its headquarters to Singapore last year, hoping to capture younger consumers in Southeast Asia.
These developments come as the company is facing rising production costs and tougher competition from players like Temu, a US-based shopping app launched by Pinduoduo parent firm PDD Holdings.
See also: Shein’s rapid rise in Southeast Asia could topple ecommerce giants
Editing by Thu Huong Le and Dhania Putri Sarahtika
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