Report: Shein Raises $2 Billion at a Lower Valuation

The latest funding round for the Chinese fast fashion behemoth, now based in Singapore, values the company at $66 billion, according to a report in the Wall Street Journal Wednesday. That’s well below the $100 billion valuation Shein received a year earlier.

Investors leading the round are Sequoia Capital, General Atlantic and Mubadala, the sovereign-wealth fund of the United Arab Emirates.

Known for its ultra-low prices and thousands of new…