Chinese fast fashion e-commerce startup Shein aims to hold a funding round at a valuation of about $100 billion. The online retailer is negotiating with potential investors to raise about $1 billion in funds. A combination of supply-chain savvy, data-driven clothing design, and tax loopholes in the US and China have made Shien a force to reckon with. Last year, the e-commerce company overtook Amazon in downloads of shopping apps in US stores.

With operations in Guangzhou, Singapore and Los Angeles, Shein offers over 600,000 items to customers in over 150 countries. The startup’s backers include Tiger Global Management, IDG, and Sequoia. Starting operations in 2008, Shein offers wedding dresses and other women’s fashion items. It is the largest pure-play online fashion company globally, as measured by retail value of self-branded products sold in 2019, according to Euromonitor International.

Shein designs and sell apparel, other fashion goods and accessories primarily under its flagship Shein’ brand. In 2019, it sold fashion products with a total GMV of approximately $2,700 million in 40 million orders to 200 countries across Asia, the Americas, Europe and the rest of the world.