Fashion Giant Shein Raises $2 Billion but Lowers Valuation by a Third

Shein, the online fashion company that won over millions of American shoppers during the pandemic, raised $2 billion in its latest fundraising round that values the company at $66 billion, about a third less than a year earlier, according to people close to the company. The online-only retailer, which was founded in China and is now based in Singapore, cut its valuation after tech-company share prices have come down. The company also faces intensifying pressure from U.S. lawmakers on its labor and environmental practices.

tips

raise：上升；提高；筹集（融资）

fundraise：募捐

retail：零售

valuation：估值

intensify：强化（intense 强烈的）

lawmaker：立法者