Chinese fast-fashion retailer Shein is reportedly seeking acquisitions to expand its brand platform, aiming to boost sales growth and diversify beyond its core fast-fashion business. The company has confirmed in its prospectus that it will acquire U.S. brand Everlane for $80 million, a deal currently under review by the Committee on Foreign Investment in the United States (CFIUS). Sources indicate that the Everlane acquisition is seen as a "test run" for Shein's broader acquisition strategy. Shein's prospectus reveals it holds $15 billion in cash reserves and raised $1.74 billion from its recent IPO, providing funding for ongoing deal activity. Additionally, Shein recorded a net loss of $99 million for the quarter ended March 31, 2026, primarily due to a $328 million fair value loss related to convertible redeemable preferred shares.