Shein Bets on Deals to Revive Growth After $70 Billion Plunge - Daily Tax Report ®

At investor meetings to pitch Shein Global Holdings Ltd. ’s initial public offering this month, the company’s reclusive founder Sky Xu addressed the biggest challenge confronting the fast-fashion giant that once threatened to upend the global apparel industry. Clad in a white T-shirt and slacks, Xu, who is also chief executive officer, said Shein’s own brand is no longer able to drive the rapid growth it previously banked on. To keep expanding, he said Shein is looking to buy other fashion labels or partner with them, and use its quick-turnaround supply chain in China to boost their sales and margins, according to people familiar with his ... Learn more about Bloomberg Tax or Log In to keep reading: See Breaking News in Context From research to software to news, find what you need to stay ahead. Learn more Already a subscriber? Log in to keep reading or access research tools and resources. Log In