Shein is one of the most successful start-ups in the world and fast fashion. Its success is a mystery. It was ranked in 2021 as one of the least transparent major fashion companies in the world.
The company is valued at $100 billion and is ranked the top shopping app in 56 countries. There are unanswered questions about its working conditions and its materials. It overtook Amazon as the most downloaded app. It’s ascend to success went unnoticed till it surpassed big brands like Zara and H&M.
Someone tweeted that you can create a year’s worth of outfits with $280 on Shein. You can just essentially buy an entire outfit, accessories, and shoes for under $30. The biggest difference that consumers notice is the price. Shein’s prices are so low, it can be hard to believe them. Shein’s price is even 70 percent to 60 percent lower than what Zara and H&M can offer to consumers.
And one of many ways that Shein keeps those prices low is through its lack of physical stores. Even with the rise of online shopping, most major fashion brands still have an offline presence. The variety Shein offers is also a reason. Zara and H&M, offer about 25,000 or 20,000 different styles of products to market in a year. Shein can launch as many as 1.3 million.
Another advantage that Shein enjoys over other global brands is that the company is based in the same country as its factories. Many fast fashion companies subcontract their orders out to the point where they may not necessarily even know all the steps in their supply chain.
