Sky Xu
Overview
- Source of Wealth
- E-commerce
- Industry
- Fashion & Retail
- Residence
- Guangzhou, Guangdong
- Education
- Qingdao University (Bachelor of Science)
Biography
Sky Xu is cofounder and CEO of Shein, a fast-fashion phenomenon with Gen Z, selling trendy clothes in more than 150 countries.
Backed by HongShan, formerly Sequoia China, it's one of the world's most popular shopping apps whose users love its low prices.
The company raised money at a valuation of $100 billion in the first half of 2022; it subsequently fell back amid a global stock rout.
It ventured offline in 2023, teaming up with Sparc Group, the operator of fast fashion chain Forever 21, to step into the retailer's locations across the U.S.
Facing regulatory hurdles to an IPO in the U.S., Shein has been pursuing a listing in London and subsequently in Hong Kong.
About
In 2022, Shein opened its first U.S. distribution center in Whitestown, Indiana and its first Canadian one in the greater Toronto area.