Shein is looking into a funding round that would value the company at $100bn, Bloomberg has reported, citing individuals familiar with the matter.
The fast fashion giant is in talks with potential investors, including General Atlantic, to raise around $1bn, according to the publication.
If Shein reaches the $100bn mark, it would become the third most valuable start-up globally, behind ByteDance and SpaceX, according to data provider CB Insights.
The company discussed its intentions last May, saying it was valued at several billion dollars and had no plan for an initial public offering (IPO) at the time.
However, talks are ongoing and details such as the size of the fundraising and valuation are subject to change.
Bloomberg argues that Shein’s success is down to a number of factors such as its data-driven clothing design, tax loopholes in the US and China and savvy supply chain decisions.
Existing investors include Tiger Global Management, IDG and Sequoia.