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Clothing giant Shein in focus as France targets fast fashion

Economic Times

Economic Times · 1y ago

Clothing giant Shein in focus as France targets fast fashion

Chinese fashion brand Shein has gained popularity for its low prices and vast selection of trendy clothes but has also faced criticism for its impact on the environment and exploitation of workers. With over a million different apparel items available, Shein utilizes an agile supply chain and on-demand production strategy to minimize waste and meet customer demand. The company tracks user data and social media trends to create designs that are likely to sell, often mimicking other brands. Shein has also leveraged micro-influencers to promote its products and maintain an inclusive brand image.

Related News

Reliance & Shein to Take India-Made Fashion Global Within a Year

StartupTalky

StartupTalky · 2m ago

Reliance & Shein to Take India-Made Fashion Global Within a Year

Reliance Retail and fashion retailer Shein plan to expand their Indian supplier base and sell Shein-branded clothing globally within a year. By partnering with Reliance, Shein aims to increase Indian suppliers from 150 to 1,000 and list India-made clothing on its US and UK sites. This effort is part of a strategy to navigate tariffs on Chinese imports. Reliance handles manufacturing, supply chain, and operations in India for Shein, under a domestic brand license.

Shein says EU fees, French penalties would increase prices in France

Economic Times

Economic Times · 2m ago

Shein says EU fees, French penalties would increase prices in France

Shein warns French consumers of potential price increases due to an EU proposal for a €2 handling fee on e-commerce packages and a French bill penalizing fast fashion for its environmental impact. Shein's spokesperson Quentin Ruffat highlighted the financial implications for French shoppers, estimating a €12 hike by 2030. The EU handling fee, if approved, would affect platforms like Shein, which ship low-cost goods directly, while France has supported such measures.

Amazon targets Shein with big fee cuts for cheap apparel sellers

Economic Times

Economic Times · 1y ago

Amazon targets Shein with big fee cuts for cheap apparel sellers

Amazon is reportedly targeting Shein, a popular online apparel retailer, by offering significant fee reductions to sellers of cheap clothing on its platform. The move is aimed at luring sellers away from Shein and boosting Amazon's position in the affordable fashion market. Shein has gained popularity for its low-cost fashion items, but Amazon is looking to gain a competitive edge by appealing to sellers with lower fees.

Ambani's Reliance fielding Chinese giant to heat up retail showdown

Economic Times

Economic Times · 6m ago

Ambani's Reliance fielding Chinese giant to heat up retail showdown

Reliance Retail has launched a Shein app in India, reviving the Chinese fast fashion brand after its 2020 ban. This move heats up competition in India's booming fast fashion market, projected to exceed $50 billion by FY31. Shein's global rise is marked by aggressive discounting and influencer marketing, despite facing labor controversies. Under Isha Ambani's guidance, Shein returns as a technology provider, with Reliance ensuring compliance with local regulations and data security.

EU regulators in talks with Shein on online content rules

Reuters · 1y ago

EU regulators in talks with Shein on online content rules

The European Commission is in contact with Shein, a Chinese fast-fashion chain, as its reported user numbers may subject it to strict EU online content regulations. Shein claimed to have 108 million monthly active users in the EU. The Commission is currently engaged in discussions with the platform but has not specified a timeline for any potential actions.

How Shein-Reliance Nexus Will Shake Up India’s Online Fashion Market

Inc42 · 1y ago

How Shein-Reliance Nexus Will Shake Up India’s Online Fashion Market

Shein, a popular fast fashion brand, is making a comeback in India through a partnership with Reliance Retail. The move comes as the Indian fast fashion industry is expected to grow to $30 billion by FY23. Instead of operating as a standalone entity, Shein's products will be available for purchase through Reliance Retail's apps and physical stores. Shein's parent company will receive a license fee based on the profits generated within India.

Shein still needs to prove it’s a bargain

Livemint

Livemint · 1y ago

Shein still needs to prove it’s a bargain

Built-in-China online fashion company Shein is seeking to show investors that its rapid growth can translate into increased profitability as it files for an initial public offering (IPO). The company, known for its affordable and trendy apparel, surpassed H&M in revenue last year and is closing in on the fast-fashion leader Zara. With a valuation expected to be higher than $66 billion, Shein aims to prove its worth in a market dominated by competitors like Inditex and Amazon. However, it faces challenges such as legal battles and geopolitical risks.

Low-cost ecommerce rivals Shein and Temu shelve US court cases

Economic Times

Economic Times · 1y ago

Low-cost ecommerce rivals Shein and Temu shelve US court cases

Online low-priced fashion rivals Shein and Temu have filed joint declarations in U.S. courts to end their legal battles with each other. Both companies have been engaged in a global market share battle. The filings did not disclose the reasons for dropping the complaints or if a settlement was reached. Shein had accused Temu of using influencers to make false remarks about the retailer, while Temu alleged that Shein violated U.S. antitrust law. Both companies have disrupted the retail industry with their ultra-fast fashion and low-price shopping models.

The world’s most anonymous CEO is about to take center stage

Livemint

Livemint · 1y ago

The world’s most anonymous CEO is about to take center stage

Sky Xu, the CEO of fashion company Shein, is known as the world's most anonymous CEO. Despite being one of the wealthiest people in China and the driving force behind a successful global shopping app, Xu remains relatively unknown even to his own employees. Shein is now preparing for an IPO in the US, which is expected to thrust Xu into the global spotlight. His company has gained popularity for its ultra-affordable and trendy clothing, but has also faced criticism for alleged copyright infringement and environmental concerns.

Shein backers offer to sell at 30% discount as IPO prospects dim

Economic Times

Economic Times · 1y ago

Shein backers offer to sell at 30% discount as IPO prospects dim

Shein investors are attempting to sell shares at private valuations as low as $45 billion, reflecting declining interest in the online fashion giant. The offers indicate a drop from the approximately $66 billion valuation Shein achieved in May 2023 fundraising. The lack of buyer interest at even these levels raises concerns about further loss of value. Shein, facing increased competition and regulatory scrutiny, aims for a $90 billion IPO, but these private transactions indicate a growing gap between market sentiment and the company's target valuation.

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