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Shein ( 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. 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. Beginning in 2012, Shein began to establish its own supply chain system, transforming itself into a fully integrated retailer. The company has established its supply chain in Guangzhou with a network of more than 3,000 suppliers as of 2022. In 2022, the company fully moved its headquarters from China to Singapore for regulatory, international expansion, and financial reasons – while keeping its supply chains and warehouses in China. In 2022, Shein generated US$24 billion in revenue, a sum almost as large as established retailers Zara and H&M. Shein was valued at $100 billion after a funding round in April 2022. According to Bloomberg Businessweek and others, Shein's business model has benefitted from the China–United States trade war, particularly in regards to tax advantages. 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. History 2008–2012: founding and early business model Shein, originally named ZZKKO, was founded in China in 2008 by entrepreneur and search engine optimization (SEO) marketing specialist Chris Xu (Xu Yangtian). Information on Xu's educational and career background remains elusive as of 2022, with sources conflicting on details of his biography. According to The Guardian, some sources have described him as a Chinese-American who graduated from George Washington University (GWU). However, other sources indicate that Xu was born in 1984 in Shandong province, and was educated at Qingdao University of Science and Technology. The Guardian notes that Xu is depicted in Chinese media coverage as an average student of poor origins. Shein has insisted that Xu was born in China. The website SheInside.com was registered in March 2011, advertising itself as "a worldwide leading wedding dress company", although it sold general womenswear as well. The company acquired its items from Guangzhou's wholesale clothing market, which is a central hub to many of the company's garment manufacturers and markets. At the time, Shein had no involvement in the design or production of the garments; it functioned similarly to a drop shipping firm, which sells items from third-party wholesalers directly to international customers. 2012–2019: rebranding and retailer status Shein made their products available in Spain, France, Russia, Italy, and Germany in the early 2010s; as well as selling cosmetics, shoes, purses, and jewelry, in addition to women's clothing. In 2012, the company established the current website and began using social media marketing by collaborating with fashion bloggers for giveaways and advertising items on Facebook, Instagram, and Pinterest. In 2014, Shein acquired Romwe, a Chinese e-commerce retailer, making it a "fully integrated retailer." By 2016 the company had 100 employees and had already established its headquarters in Guangzhou. The firm's name changed again in 2015 from Sheinside to Shein, claiming that it needed a name that was simpler to remember and easy to find online. By 2016, Xu gathered a team of 800 designers and prototype makers that manufactured Shein-branded clothing. The company began improving its supply chain, excluding vendors that provided low-quality items or photos. Registration in Singapore In 2019, Singapore-registered Roadget Business Pte listed Chris Xu and others as representatives. By 2021, Chinese corporate filing shows that Shein de-registered its main business, Nanjing Top Plus Information Technology Co Ltd. Singapore filings reportedly shows Roadget as the legal entity operating Shein's global website and owns Shein's trademarks. 2020–present Amid the COVID-19 pandemic in 2020, it reportedly made $10 billion in revenue, making it the seventh consecutive year of more than 100% sales growth for the company. As of October 2020, Shein was the world's largest online-only fashion firm. Shein was noted for being an early adopter of TikTok as a promotional tool, and the firm's ability to advertise viral items boosted its popularity. By November 2021, Shein grew from a company valued at $15 billion to one valued at $30 billion. According to Ernest Analytics, Shein became the largest fast fashion retailer in the United States in 2021, and had also launched online in Mexico. A survey of 7,000 American teenagers in 2022 ranked Shein as their second favorite e-commerce website. In 2022, Shein moved its headquarters to Singapore. In April 2022, Shein raised $1 billion to $2 billion in private funding and claimed 28% of the US fast fashion market. As of May 2022, it is the largest fast-fashion firm in the world. In a May 2022 article in Fortune, the company was described as catering to Generation Z consumers while using big data and rapid Chinese manufacturing to quickly design clothing at lower prices. The company was valued at $100 billion. In October 2022, The Wall Street Journal reported that Shein generated US$24 billion in revenue in 2022, becoming almost as large as traditional fast fashion brands such as Zara and H&M. Its other competitors include ASOS, Fashion Nova, Forever 21, PrettyLittleThing, Temu, and TopShop. In August 2023, Shein and SPARC Group (the company that owns Forever 21) entered into a joint venture where each company acquired a minority stake of the other. Expansion in North America and potential IPO Shein launched their marketplace, featuring third-party vendors, in Brazil and the United States in May 2022. In 2022, Shein established a distribution center in Whitestown, Indiana, with plans to open more distribution facilities in southern California and northeast US. In November 2022, Shein opened a new corporate office and distribution center in Markham, Ontario, to function as Shein's main distribution hub in Canada. Sales in 2022 were $23 billion. In July 2023 Shein announced to investors it had seen its highest recorded profits for a first half of a year. The company had an estimated value of $66 billion, a drop from the estimated $100 billion in value in 2022, according to The Wall Street Journal. In February 2023, Marcelo Claure was appointed chair of the Latin American operations of Shein. According to reports, in 2023, although still domiciled in Singapore, Shein sourced primarily from manufacturer.... Discover the Roadget Business Pte Ltd popular books. Find the top 100 most popular Roadget Business Pte Ltd books.