Started in 2008, Shein is a direct-to-consumer fast-fashion brand aimed squarely 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.
It completed a Series E financing in 2020 on an eye-watering valuation of $15 billion. Revenues have not been disclosed but are rumoured to be more than $10 billion annually. Sales surged last year as the pandemic pushed more consumer purchasing online.
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