Started in 2008, Shein is a direct-to-consumer fast-fashion brand aimed at Generation Z shoppers, luring younger consumers via Instagram and TikTok influencers, with a barrage of discount codes for lower-priced styles.
Shein’s clothing is mostly made in China but its largest target markets are consumers in other countries, especially in the United States. Some of its clothing is priced at half that of fast-fashion retailer Zara and it churns out new product lines on a frantic basis, uploading new ranges online in their hundreds every week.
Shein is one of the fastest risers in our ranking, tripling its valuation during the course of 2021 to $47 billion. Revenues have not been fully disclosed but are rumoured to be more than $10 billion a year and growing at 100%, with sales surging last year as the pandemic pushed more consumers online.
After years of relative obscurity Shein is also receiving more media coverage, with an app that has overtaken Amazon’s as the most downloaded shopping app in the US and a website that now gets more visits than any other clothing brand or retailer in the world, according to research firm Similarweb.
For more about the company, please see here.
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