2024 OCTOBER
THE REINCARNATION
OF
SHEIN
Written by Andrew Sia
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From the Desk of the Publisher
Shein is an online fast fashion retailer based in Singapore and launched in the U.S. in 2017. If we looked back, the company was only founded in 2008 in China, and it is today a favorite brand among the youngsters in the U.S. using its trendy clothing and accessories in unbeatable low prices.
In 2021, it became the most downloaded shopping app in the U.S. surpassing Amazon and had an estimated $3.1 billion in retail sales in the U.S. market.
It was since 2022, Shein tried for its first floating IPO plan in the U.S. but the market was unfavorable because of the war in Ukraine. Since then the geopolitical situation been growing tense between the two countries, the U.S. and China, and Shein tried to move to London for its IPO. Situation doesn’t look good anymore as on July 4, the Labor Party won the election and become the ruling party of the UK. The Labor Party has always been skeptical about Shein’s labor practice in its supply chain. The journey of Shein’s go public would be a long one.
In this article we wish Shein can starts to put its acts together and to become a reliable corporation of the world. Coming from nowhere and become where it is now is almost a miracle and it is only possible with the backup from a country like China. There are more ways to look for improvements and eventually gain victory in this race for its IPO.
