Asia Tech Wire (May 8) -- Shein ranked as the third largest online fashion retailer in the U.S., according to the latest data from the ECDB website cited by data and business intelligence platform Statista.

The ranking for the Singapore-based company places it behind Amazon and Walmart, but ahead of traditional U.S. retail giants Macy's and Nike.

Apparently, Shein becomes the only Chinese-founded business among the top five online fashion retailers in the U.S.

Amazon and Walmart, which sell all kinds of goods through online and brick-and-mortar stores, will have net fashion sales of $12.3 billion and $8.9 billion in 2023, respectively, according to ECDB data.

And Shein sells predominantly online, with net fashion sales of $8.1 billion.