Reported 8 months ago
As Shein plans for an IPO with a potential $66 billion valuation, the fast-fashion retailer has quietly increased prices on over a third of its items, surpassing hikes at competitors like H&M and Zara. In the U.S., the average price of women's dresses on Shein's website rose to $28.51, which is 28% higher than last year, while the average pair of shoes now costs $40.70, up starkly from $25.30 in 2023. Additionally, Shein has faced scrutiny for high levels of toxic chemicals in its products and despite the price increases, the company reported a significant boost in revenue and profits in 2023, making it more appealing to investors but potentially less affordable for shoppers.
Source: YAHOO