There is no mention of its founder and CEO Chris Xu.
On its official website, it describes itself as an “international B2C fast fashion e-commerce platform” founded in 2008. The origin of Shein, which was previously named “She Inside,” is little understood. Shein also climbed to the No.1 place on the App Store chart, which measures a combination of downloads, velocity and a few other signals to determine ranks.
It briefly topped the Android chart in late April. On May 11, Shein became the top shopping app on Android by new downloads in the U.S., and six days later took the top spot on iOS as well, according to App Annie. The strategy is not unlike TikTok matching content creators with users by using algorithms to understand their habits in real-time.Ĭhina’s Black Lake raises $77M to give factories a digital upgrade Each step is highly digitized and integrated with another, which allows the company to churn out hundreds of new products tailored to different regions and user tastes at a daily rate. The difference is Shein controls its own production chain, from design and prototype to procurement to manufacturing. The app, dubbed the “TikTok for e-commerce” by China-focused internet analyst Matthew Brennan in this thorough piece on the startup, manufactures in China as many apparel retailers do. Its ascent is quiet because the startup, despite reportedly exceeding a $15 billion valuation, maintains an unusually low profile and doesn’t try to make itself known to the media. Shein‘s quiet rise has reached a crescendo as the fast fashion e-commerce app takes the crown from Amazon as the No.1 app in the shopping categories of iOS and Android in the United States, according to data from app tracking firms App Annie and SensorTower.
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