Business & Economy · 1 views
Shein CEO’s wealth slumps $15 billion after whittled-down IPO
Chinese fast-fashion business Shein Global Holdings Ltd. was once worth more than the parent companies of H&M and Zara, giving its reclusive boss Sky Xu a net worth of more than $23 billion.
AI Summary
Shein Global Holdings Ltd., once valued higher than the parent companies of H&M and Zara, saw its founder Sky Xu’s net worth fall from over $23 billion to roughly $8 billion in four years. The decline is linked to the company’s struggles with tariffs, political scrutiny and intensifying competition.
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