The exact financial figures of Shein, the Chinese fast-fashion giant, remain largely undisclosed. However, Jamie Salter, CEO of Authentic Brands Group, hinted at the company's substantial revenue during the ICR Conference in Orlando - a story covered by CNBC.
While it is speculated that Shein's annual sales hover around US$30 billion, Salter suggested that the actual figures are significantly higher.
Shein, a private company preparing for a public offering in the US, has been tight-lipped about its earnings.
The most concrete figure available, from a Wall Street Journal report, estimated Shein's 2022 sales at US$23 billion.
The company aimed for 40% sales growth in 2023, potentially exceeding $30 billion, but it is unclear if this target was met.
Salter's insights stem from a partnership between Shein and Authentic Brands Group, the CNBC report said.
Last summer, Shein acquired a portion of Sparc Group, a joint venture involving Authentic and Simon Property Group. Sparc, which operates Forever 21, now holds a minority stake in Shein. This collaboration has led to co-branded clothing lines and pop-up events in Forever 21 stores.