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The fashion industry is home to 38 unicorn startups, spanning e-commerce marketplaces and direct-to-consumer brands. Online retailer Shein leads the pack with a valuation of $66 billion.
Other major players include Turkish e-commerce platform Trendyol Group, valued at $17 billion. Newer entrants like Skims, founded in 2019, have also quickly grown to a $4 billion valuation.
Below is the full list of 38 Fashion unicorn startups at this time.
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Get the Sheet for $50Shein runs a global e-commerce platform offering a wide array of apparel, beauty products, and home goods. They are known for an ultra-fast fashion model that provides consumers with a vast, constantly-refreshed selection of trendy items at low prices.
Trendyol Group operates a leading e-commerce platform in Turkey, serving as a massive digital marketplace for a wide range of products. Initially gaining popularity with fashion, the company now provides a comprehensive shopping app that also includes groceries, electronics, and food delivery.
Vuori creates premium performance apparel inspired by the active Coastal California lifestyle. They design versatile clothing that blends technical fabrics with a modern aesthetic, made for everything from fitness to daily life.
Lenskart sells prescription eyewear, branded contact lenses, and sunglasses through its online optical platform. Their platform aims to make purchasing eyewear more convenient by offering a vast selection of products directly to consumers.
Vinted operates an online marketplace and community centered around second-hand fashion. The platform allows millions of users to buy, sell, and swap pre-owned clothing, making it easier to participate in the circular economy.
SSENSE operates a global e-commerce platform that curates a mix of luxury fashion, emerging designers, and streetwear. The company is also a producer of cultural content, blending commerce with original editorials to engage a fashion-forward audience.
Skims creates solutions-oriented underwear, loungewear, and shapewear designed for a new generation of consumers. They built their brand on an inclusive approach, offering an extensive variety of sizes and skin-toned shades.
Meesho created a social commerce marketplace that allows anyone to start an online business without investment. Their platform provides products, logistics, and payment tools, empowering millions of resellers in India to sell to customers through social media apps.
Goat Group runs a leading marketplace for authentic sneakers, apparel, and accessories from the world’s top brands. Their platform is built around a robust authentication service, giving buyers confidence in the legitimacy of every purchase.
MUSINSA runs a curated online fashion destination where shoppers can discover a diverse collection of brands and products. Their platform emphasizes storytelling to connect consumers with the designers and styles they feature.
The ten most valuable companies are just the start of the story. While many of these startups are based in the United States and China, founders across the globe are building the next big fashion brands.
Together, they have raised over $7.7 billion to influence what we wear and how we shop. Here’s a look at the other fashion startups that have joined the unicorn club.
| Unicorn Startup | Country | Year Founded | Amount Raised | Valuation |
|---|---|---|---|---|
| China | 2007 | $522M | $3B | |
| United States | 2011 | $315M | $2B | |
| France | 2009 | $722.3M | $2B | |
| United States | 2010 | $266.4M | $2B | |
| United States | 2013 | $907.4M | $2B | |
| South Korea | 2015 | $259.1M | $2B | |
| China | 2020 | $500M | $2B | |
| United States | 2021 | $965M | $2B | |
| China | 1999 | $200M | $2B | |
| India | 2016 | $177M | $1.4B | |
| France | 2001 | — | $1.38B | |
| Spain | 1947 | $100M | $1.1B | |
| China | 2012 | $135.7M | $1.1B | |
| United States | 2017 | $310M | $1B | |
| United States | 2013 | $130M | $1B | |
| United States | 2009 | $163M | $1B | |
| United States | 2010 | $262.1M | $1B | |
| United States | 2015 | $60M | $1B | |
| United States | 2017 | $200M | $1B | |
| United States | 2010 | $336M | $1B | |
| China | 2012 | $95.8M | $1B | |
| Germany | 2003 | $180M | $1B | |
| United States | 2002 | — | $1B | |
| China | 2011 | $224.3M | $1B | |
| United States | 2012 | $519M | $1B | |
| China | 2010 | $368M | $1B | |
| China | 2012 | $130M | $1B | |
| Hong Kong | 2015 | — | $1B |
