[Market Trends] How Shein Built a $66B Fast-Fashion Empire | The Wall Street Journal
๐ Scaling Fast Fashion: Shein's Rise Amidst Controversy and Innovation
Shein, a Chinese fast-fashion company, has rapidly grown to a valuation of $66 billion by 2023, controlling 40% of the U.S. market. Known for ultra-cheap prices like $2 T-shirts, Shein's strategy includes using small batches and real-time production adjustments based on customer interactions. However, its success is marred by controversies, including labor abuses and environmental concerns. The company employs an on-demand model, minimizes unsold inventory, and leverages tax exemptions to maintain low costs. Despite recent criticisms and a push for greater transparency and supply chain diversification, Shein remains a dominant player in fast fashion.