Shein shine fades as private share sales soften

Your teenage daughter might be crazy over Shein, but potential investors are getting less and less excited. The backers of the Chinese fast-fashion platform are offering to sell at a 30% discount as demand evaporates amid competition and regulatory scrutiny, Bloomberg reported, citing people familiar with the matter. Shein investors were trying to sell shares in private market deals at valuations of $45B to $55B last month, down from a valuation of $66B from a fundraising in May, but even at the lower level they haven’t been able to find buyers. Shein had a target of up to $90B in…