// Online fashion giant Shein projects its sales will more than double to nearly $60 billion by 2025
// The ambitious revenue projection comes as the Chinese fashion giant weighs up a potential IPO this year
Shein has predicted its revenue will more than double to reach almost $60bn (£49.8bn) by 2025, despite competition growing and its valuation slipping.
The online fast fashion giant is hoping to convince investors its numbers are solid for it to remain on a course for a potential blockbuster IPO later this year.
The business reported annual revenue of $22.7bn (£18.8bn) last year and is projected to achieve annual revenue of $58.5bn (£48.6bn) in 2025.
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If right in its estimations, it will exceed the existing combined total sales of fellow fashion giants H&M and Zara.
According to the Financial Times, Shein must significantly alter sales patterns to hit its revenue goals, in particular by gaining more repeat customers and beginning to sell more diverse and expensive clothing lines.
In December last year, Shein managed to overtake Zara as the most frequently Googled fashion retailer in the world, according to keyword data analysed by price comparison website Money.co.uk.
The fast fashion retailer is followed by Zara, which took the top spot in 2021.
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