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Shein’s Revenue Surged More Than 40% in First Three Quarters of 2023
Shein’s revenue surged more than 40% to $24 billion between January and September from a year earlier, people familiar with its finances said, growth that highlights the mounting threat for Amazon as the China-founded retailer looks to expand beyond fast fashion by ramping up sales of other goods like appliances and electronics.
Shein, last valued at $66 billion and backed by investors including Sequoia Capital and General Atlantic, has already eclipsed fast-fashion rival H&M in terms of revenue. While the …