Online Chinese fast fashion retailer Shein is reportedly considering a funding round with a US$100bn valuation slapped on the company, according to reports.
The start-up was reported by Bloomberg to be in talks with several investors, including global growth equity firm General Atlantic, about potentially raising US$1bn.
Should the firm achieve the US$100bn valuation, it would make it the third most valuable start-up in the world after ByteDance Ltd and SpaceX, and ahead of Stripe, Klarna and Checkout.com.
Talks are ongoing over the fundraising and nothing has been decided yet, according to sources cited by the newswire.
Bank of America (NYSE:BAC), Goldman Sachs and JPMorgan were reported in January to have been hired as bookmakers for a rumoured initial public offer, which the company denied.
Shein has grown rapidly over the past decade, even overtaking Amazon in downloads of shopping apps on US stores last year.
Its success is attributed to excellent supply chain management, fashionable designs and tax loopholes in the US and China, Bloomberg said.
Shein has nearly 10,000 staff spread across operations in Guangzhou, Singapore and Los Angeles, and offers more than 600,000 items to over 150 countries.