For perspective, Shein is now worth more than Zara and H&M, two of the world's largest publicly traded fast-fashion chains, combined.
Chinese fast fashion etailer Shein officially became the largest fashion retailer in the world this year as it secured a $100bn valuation in its latest fundraising round. This makes it bigger than Zara and H&M – the world's top two clothing retailers until this week – combined.
It went from a $5 billion valuation in 2019 to $47 billion in 2021, and is expected to IPO in 2022. We have collected data and statistics on Shein. Read on below to find out more.
Shein's primary audience is Gen Z consumers, and it has focused much of its marketing efforts on social media influencers on platforms such as Instagram and TikTok. In April 2022, Shein closed a funding round that valued the company at $100 billion.
Basically: SHEIN is a dupe of a dupe. It doesn't get more soulless than that. Under the hashtags #zaravsshein and #zaradupe, TikTokers present side-by-side try-ons of virtually identical garments from Zara and SHEIN.
Chris Xu founded Shein in 2012 and has turned it into a fast-fashion phenomenon with Gen Z, selling trendy clothes in more than 150 countries. Backed by Sequoia China, it's one of the world's most popular shopping apps whose users love its low prices.
Zara parent company, Spain-based Inditex Group, has a market cap of about $66 billion, while Sweden's H&M is worth only $20 billion.
The brand undercuts rivals on price and often adds thousands of new styles to its website daily. It uses aggressive social media marketing to win over young shoppers.
It's taken Xu Yangtian, Shein's chief executive officer, less than 10 years to build one of the world's great fortunes. He's worth at least $23.5 billion, according to the Bloomberg Billionaires Index, which estimates his stake in Shein at about one-third.
In May 2021, Shein made headlines by overtaking Amazon as the number one shopping app on iOS and Android. The June announcement that Shein may IPO at a $47 billion valuation rattled public attention again. How did this Chinese app seemingly emerge out of nowhere to become the most downloaded in the U.S.?
In short, Shein produces its clothes in generic wholesale factories to keep its costs at a minimum. While this allows you to buy clothes at dirt-cheap prices, it poses an ethical dilemma. The working standards of Shein seamstresses are controversial, to say the least.
Despite the company's environmentally-unconscious practices, exploitation of garment workers, and history of ripping off independent designers, SHEIN managed to attract a slew of influencers and big-name celebrities — including The Weeknd, Normani, Big Sean, Tyga, and, puzzlingly, Casey Affleck — to its desert party.
Shein (/ˈʃiːɪn/ SHEE-in; styled as SHEIN; Chinese: 希音; pinyin: Xīyīn) is a Chinese online fast fashion retailer. Shein, originally named ZZKKO, was founded in 2008 by Chris Xu in Nanjing, China. The company is known for its affordably priced apparel.
Amancio Ortega, the 86-year-old Spanish founder of clothing retailer Zara, is worth around $54 billion. Ortega owns 59% of Inditex, the world's largest clothing retailer. Besides Zara, he owns Pull&Bear, Bershka, Massimo Dutti, Stradivarius, among others.
shī ēn. to confer a favor on sb to confer a benefit.
On Monday, fast-fashion retailer Shein launched its resale program “Shein Exchange.” The online-only (and app-supported) peer-to-peer resale program facilitates the sale and purchase of secondhand Shein products.
It's much cheaper to manufacture clothes in China than it is in the U.S. This is why SheIn can afford to set lower price points than other clothing brands can. At SheIn, you get what you pay for. SheIn uses lower-quality materials to make their clothing, which keeps costs down and prices low.
It belongs to Inditex, one of the world's largest distribution groups. The customer is at the heart of our unique business model, which includes design, production, distribution and sales through our extensive retail network.
Zara divides the products sold within its stores into lower garments and upper garments, with price points being higher for the upper garments. Zara hopes to be perceived as a high-end retailer with affordable prices.
With regards to maximum prices, ZARA holds a higher price point for both its regular and premium collections than H&M.
Zara's way to deal with configuration is firmly connected to its clients. This story is about how Zara became the undisputed king of Fast fashion.