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SHEIN

Chinese-Singaporean fast fashion retailer

Shein, founded in 2008, is the world's largest fashion retailer. It started as a drop shipping business but evolved into an integrated retailer with its own supply chain. Known for affordable apparel, Shein's success is attributed to its popularity among Generation Z. The company moved its headquarters to Singapore in 2022 and generated $24 billion in revenue.

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Timeline

Shein, a B2C fast fashion company, was founded in October 2008 by Chris Xu. It is owned by Nanjing Lingtian Information Technology Co. and is headquartered in China.

Expansion to SheInside

The company expanded its product range to include women's clothing and rebranded itself as SheInside in the early 2010s, signifying a significant milestone in its growth and diversification.

Registration of SheInside.com

The website SheInside.com was registered in March 2011, initially advertising itself as a worldwide leading wedding dress company, although it sold general womenswear as well.

SheInside rebrands to Shein

SheInside, an e-commerce website known for selling wedding dresses, rebrands to Shein in 2012.

SheInside Expands Team

By 2013, SheInside had approximately 100 employees and overhauled their marketing approaches, evolving into a fully integrated retailer.

Shein Becomes Fully Integrated Retailer

In 2014, Shein became a fully integrated retailer by securing its supply chain system, utilizing a network of manufacturing partners and suppliers to make and deliver its products.

Shein's Acquisition of Make Me Chic

Shein acquired Make Me Chic on January 1, 2015.

Growth in Workforce

By 2016, the Shein team had grown to 800 employees, indicating significant expansion and success of the company.

Shein's Mission and Vision

SHEIN focuses on providing customers with value by bringing quality products at affordable prices. The company is dedicated to quality, value, and service as per its vision statement.

Shein Data Breach

In 2018, Shein experienced a data breach that compromised the email addresses and encrypted passwords of 6.42 million users. The severity of the breach was later revealed to be much higher, affecting 39 million accounts and compromising credit card information. Many users were not notified or required to reset their password afterwards.

Boohoo executive team's reaction to Shein

In 2019, the executive team at Boohoo laughed at the mention of start-up Chinese e-commerce retailer Shein, underestimating its potential. Three years later, Shein has achieved a remarkable valuation of £76.5 billion, surpassing Inditex and H&M.

Ban on Shein by Ministry of Electronics and Information Technology

In June 2020, the Ministry of Electronics and Information Technology banned Shein, one of the apps, following an increase in tension with China along the Himalayan borders.

Swastika Necklace Controversy

In July 2020, a necklace with a swastika was reported and later removed from the Shein site in response to widespread public criticism. The brand explained that it was a Buddhist religious symbol, not a Nazi swastika.

Shein's App Downloads Surpass Amazon

On May 17, 2021, Shein's app downloads exceeded those of Amazon, making it the second most popular shopping app globally in 2021 and the most-downloaded app in May 2022.

Shein's AI Technology for Fashion Trend Identification

Shein utilizes AI technology to swiftly identify fashion trends and produce a large number of garments at an unprecedented pace.

Bloomberg News Report on Shein's Use of Xinjiang Cotton

Bloomberg News reported that Shein's apparel was made with cotton sourced from Xinjiang amid the persecution of Uyghurs in China, leading to concerns about the use of forced labor in the company's supply chain.

evoluSHEIN x Anitta Collaboration Launch

SHEIN announced a collaboration with pop sensation Anitta to launch evoluSHEIN x Anitta on June 17, 2023. This marks the first product collaboration under SHEIN's evoluSHEIN by Design initiative, focusing on sustainable materials.

Shein's Collaboration with Reliance Retail in India

After being prohibited in India in 2020 due to rising tensions with China, Shein is returning to the nation in collaboration with Reliance Retail. The Indian government granted the business permission to collaborate with Reliance Industries.

Shein's Investment in SPARC Group

Shein made a corporate round investment of $24M in SPARC Group on August 24, 2023.

Shein's Acquisition of Missguided

Shein acquired Missguided on October 30, 2023, for $24M.

Shein's Impending US IPO

Shein aims for up to $90 billion in its impending US IPO, despite recent valuation concerns. The eagerly anticipated IPO is delayed due to copyright issues and forced labor difficulties.

Uniqlo lawsuit against Shein

In January 2024, Japanese fashion giant Uniqlo sued Shein over copycats of a crossbody pouch, demanding the immediate cessation of sales of the imitation products and compensation for damages incurred.

End of the Timeline
SHEIN

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