Rank #696
Sky Xu
Net worth $6.0B
E-commerce · China
- Born
- Jan 01, 1984
- Age
- 42
- Source
- E-commerce
- Residence
- Guangzhou, Guangdong
- Citizenship
- China
- Marital status
- Children
- 0
- Education
- Bachelor of Science, Qingdao University
Net worth over time
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.
- In 2022, Shein opened its first U.S. distribution center in Whitestown, Indiana and its first Canadian one in the greater Toronto area.