According to the latest financial estimate, Shein is worth $100 billion. However, the question is what the health and environmental cost of craving their cheap products is.
The participating Chinese fast fashion brand was valued at $100 billion in a recent financial estimate, which means Shein, which sells only online, is worth more than Zara and H&M combined. The Wall Street Journal. A source said the funding round, which concluded last week, brought in between $1 billion and $2 billion in capital for Shein, but the Chinese fashion brand has not confirmed this.
Founded in 2008, Shein, which ships to more than 150 countries worldwide, has been known for its inexpensive clothing and accessories.
More than two thousand new products are added to your online store every day!
The company operates on the so-called on-demand business model, i.e. only a small quantity of a new piece of clothing is offered for sale first and mass production begins only if it is required according to the sales of the web store.
One of the keys to the Chinese brand’s success is a strong presence on social media – it regularly promotes its products with popular liquids and celebrities in a paid partnership, and TikTok is also filled with videos showing Generation Z users how much they have ordered from the site. .
Moreover, the Chinese company is not just about global fast fashion brands: according to an American figure, more people downloaded the Shein app than Amazon last year! According to Earnest Research, Shein has become the number one fast fashion company in the United States by sales, ahead of H&M, Zara, and the popular Forever 21.
Of course, good and popular numbers also have minuses: in addition to the fact that such large-scale dumping and rapid production conditions have a terrible impact on the environment, Shein is accused of design theft.
I’m attached to these big brands that steal from black designers. Tweet embed to steal Tweet embed Designs to T. They couldn’t even change a single thing and it’s now one of their bestselling items. They even stole beauty brands. like come pic.twitter.com/ose8DiM9hK
– Mariama Diallo ✨ (@MariamaDiallo__) June 11, 2021
Last year, fashion designer Mariama Diallo, a clothing brand for Sincerely Ria, tried to prove that the Chinese fashion giant copied her and Vanessa Bowman’s pieces. WatchmanI informed her last month that Shein had printed one of her works on the jackets without her permission. And then we didn’t even mention that customers are consistently dissatisfied with the undesirable quality of the products they receive.
And what the brand claims is environmentally friendly and uses a lot of recycled materials, That doesn’t seem rightIn addition, it turns out that the clothes contain toxic chemicals that remain in the fabric even when washed.
In Canada, the children’s jacket was pulled last fall because the country’s lead amount for products intended for children is close to twenty times It includes
A Canadian affiliate of Shein, AliExpress and Zaful also accused these Chinese fast fashion companies that every fifth of their products contain toxic chemicals that cause brain damage. Which, of course, isn’t good for shoppers, especially those who make clothes – plus the latter hovers 75 hours a week for little money on cheap clothes (that’s 15 hours a day for 5 work days a week).
Source: Insider, The Wall Street Journal, CBC; Featured Image: Getty Images