Is Urbanic the new Shein? A look at China’s rising fast-fashion rivals ...Middle East

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Is Urbanic the new Shein? A look at China’s rising fast-fashion rivals
What Happened: Another China-born online fast-fashion retailer has received a big check.   Urbanic, a London-based fast-fashion brand established in 2019 by Xue Chi and Deng Qiulin, two Chinese entrepreneurs who previously worked at Google and Alibaba, successfully secured a $150 million Series C investment on November 16. The capital raised will be used to accelerate the company’s market expansion, optimize its supply chain, and upgrade AI design. The substantial investment comes from a consortium of European and New York-based funds. Urbanic says its objective is to use this money to create a more environmentally and socially responsible range of designs and clothing. The Jing Take: In re

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