Shein expects its revenue to reach $58.5 billion by 2025 as the fast fashion giant looks set to convince potential investors that it is ready to file for an IPO this year, according to a “management presentation” seen by the Financial Times. The earnings prediction came after Shein CEO Chris Xu entered talks about a new round of fundraising, and the retailer’s valuation dropped by one-third to $64 billion last month. The Singapore headquartered company projected that its profit would grow to $7.5 billion by 2025, driven by a new premium product line and lower warehousing and delivery costs. Despite having been profitable for four consecutive years, Shein’s $700 million profit in 2022 was down $400 million from the previous year, largely due to high production and air freight costs, the UK newspaper noted. [Financial Times]