With jaw-droppingly low prices and a seemingly endless selection of trendy clothes, Shein has taken the world by storm -- and found itself in the crosshairs of French lawmakers who want to curb the excesses of fast fashion.
Shein has taken the world by storm with its jaw-droppingly low prices and a seemingly endless selection of trendy clothes. Photo: Christophe ARCHAMBAULT / AFP/FileWith jaw-droppingly low prices and a seemingly endless selection of trendy clothes, Shein has taken the world by storm -- and found itself in the crosshairs of French lawmakers who want to curb the excesses of fast
Still, it benefits from China's unique combination of a massive low-cost textile manufacturing industry with highly developed e-commerce technology and logistics networks. While such a large variety usually comes with huge risk and production costs, Shein reported $23 billion in revenue and $800 million in net profit in 2022, according to The Wall Street Journal.
The company ranks suppliers by their flexibility and ability to deliver urgent orders, and regularly eliminates the poorest performers, according to a 2021 Zhongtai Securities report. The French parliament last week approved measures to make low-cost fast fashion less attractive to customers, especially because of sustainability concerns.
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