 | |
Native name | 希音 |
|---|---|
| Formerly | ZZKKO |
| Industry | Retail |
| Founded | October 2008 in Nanjing, China |
| Founder | Chris Xu |
| Headquarters | 112 Robinson Road, |
Key people | Chris Xu (Founder & CEO) Leigh Gui (CFO) |
Number of employees | 10,000+ |
| Parent | Roadget Business Pte. Ltd. |
| Subsidiaries | MOTF ROMWE |
| Website | shein |
| Footnotes / references [1][2] | |
| Shein | |||||||||||||||||||
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| Chinese | 希音 | ||||||||||||||||||
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Shein (/ˈʃiːɪn/ SHEE-in; styled as SHEIN; Chinese: 希音; pinyin: Xīyīn) is a fast fashion retailer. Founded in Nanjing, China, in October 2008 as ZZKKO by entrepreneur Chris Xu, Shein grew to become the world's largest fashion retailer as of 2022. The company is currently headquartered in Singapore.
Known for selling relatively inexpensive apparel, Shein's success has been credited to its popularity among Generation Z consumers.[3] The company was initially compared to a drop shipping business, as it was not involved in design and manufacturing, instead sourcing products from the wholesale clothing market in Guangzhou.[4][5] Beginning in 2012, Shein began to establish its own supply chain system, transforming itself into a fully integrated retailer.[5] The company has established its supply chain in Guangzhou with a network of more than 3,000 suppliers as of 2022. However, it has faced controversy due to its use of Chinese sweatshops and child labor.[6]
In 2022, the company moved its headquarters from China to Singapore for regulatory, international expansion, and financial reasons – while keeping its supply chains and warehouses in China.[7] In 2022, Shein generated US$24 billion in revenue, a sum almost as large as established retailers Zara and H&M.[6] Shein was valued at $100 billion after a funding round in April 2022.[8] According to Bloomberg Businessweek and others, Shein's business model has benefitted from the China–United States trade war, particularly with regard to tax advantages.[9] In recent years, Shein has found itself in the middle of trademark disputes, lawsuits involving competitors, product safety concerns, as well as accusations of tax evasion and being involved in labor law and human rights violations.[10]
- ^ Lu, Shen. "The World's Most Anonymous CEO Is About to Take Center Stage". WSJ. Archived from the original on 10 December 2023. Retrieved 10 December 2023.
- ^ "SHEIN". Archived from the original on 24 May 2023. Retrieved 24 May 2023.
- ^ Testa, Jessica (1 September 2022). "The People's Republic of Shein". The New York Times. ISSN 0362-4331. Archived from the original on 12 June 2023. Retrieved 4 March 2023.
- ^ "The Shady Labor Practices Underpinning Shein's Global Fashion Empire". Sixth Tone. 17 September 2021. Archived from the original on 17 July 2023. Retrieved 17 July 2023.
- ^ a b Nguyen, Terry (13 July 2021). "Shein is the future of fast fashion. Is that a good thing?". Vox. Archived from the original on 2 January 2022. Retrieved 6 November 2021.
- ^ a b Yang, Jing. "Fast-Fashion Juggernaut Shein's Sales Close In on Zara, H&M". The Wall Street Journal. Archived from the original on 11 April 2023. Retrieved 11 November 2022.
- ^ "How China Inc is tackling the TikTok problem". The Economist. 7 March 2023. ISSN 0013-0613. Archived from the original on 25 June 2023. Retrieved 25 June 2023.
- ^ Scott, Miriam Gottfried and Charity L. (5 April 2022). "Shein Valued at $100 Billion in Funding Round". The Wall Street Journal. ISSN 0099-9660. Archived from the original on 1 July 2022. Retrieved 25 June 2022.
- ^ "How Trump's Trade War Built Shein, China's First Global Fashion Giant". Bloomberg Businessweek. 14 June 2021. Archived from the original on 30 June 2021. Retrieved 15 June 2021.
- ^ "'No respect for industry': Charles & Ron suit copied on Shein, selling for €18". 13 February 2024. Archived from the original on 14 February 2024. Retrieved 13 February 2024.