People hold Shein shopping bags standing outside the first permanent showroom of Chinese online fast fashion giant Shein on the opening day of the shop in Tokyo on November 13, 2022.
But what sets Shein apart, analysts say, is a hyper-efficient supply chain and product development process. 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 only reason Shein is able to get away with this is because they’re extremely agile and they have very little waste in their warehouse,” Rui Ma, China business expert and founder of the Tech Buzz China newsletter, told AFP.
At the same time, it tracks users’ search data and social media trends to generate designs that are almost guaranteed to sell — often appearing to simply copy from other brands. Shein says it conducts regular third-party audits to ensure fair wages, and it says its on-demand model avoids overproduction and thus “dramatically reduces waste”.
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