Shein is an online fashion marketplace known for selling clothing (and more) on a budget. The platform is really popular on TikTok and amongst Gen Z.
Now, let's look at some interesting information about Shein.
According to Forbes, Chris Xu (Shein Founder) has a current net worth of $10 billion.
The most recent valuation of Shein was at $100 billion (2022).
You can see from the table above that Shein became more relevant and worth more money with each new year.
It's insane how it went from $5 million in 2019 to being worth $100 billion in the course of just three years. This really shows how popular the platform is.
Shein earned $24 billion in 2022. Stay tuned for data on Shein's revenue in 2023!
This is money that Shein made through selling clothing and various other objects.
In January 1 2015, Shein acquired Make Me Chic. Currently, there are no other acquisitions made by Shein, only this 1 so far.
As of March 2022, Shein is now responsible for 40% of fast fashion industry sales. The following table will show us a more organized detail.
To this day, there are 9 investors in Shein. Below is a list with all of them.
There have been 6 investments in Shein, and the latest one was of $1.5 billion in April 2022.
The table below shows you data about Shein's funding history.
While we don't know every detail about all of the Shein fundings, we know that there is a lot of money going in Shein as a response to the high demand and consumer expectations.
Not for nothing does Shein own 40% of the fashion industry's sales!
Shein makes money by selling clothes and items.
In its earlier days, Shein mainly sourced their clothing from wholesale clothing markets in Guangzhou. When Shein became a fully integrated retailer in 2014 and secured their own supply, they would submit designs based on the current trends to their manufacturing partners to produce these clothes and items.
They also have networks of suppliers where they get their raw resources from. Shein is viewed to be very successful because of its small-batch strategy.
Unlike its competitors, Shein limits customer purchases to 100 items. This will provide them data on customers’ interests and serve as a safety net if the orders are not fully fulfilled.
As per Shein’s own website, they claim that they have more than 10,000 employees worldwide.
The number of factory workers under their employment is unclear, as they have not released any official information about this.
We'll publish the number of factory workers as soon as we find any data on it. Until then, stay tuned!
Shein has an audience of 58% female and 42% male.
On the whole, we can observe how Shein has a pretty balanced male-female ratio in their employees.
Right now, there are only 200 designers working for Shein, according to an article from BBC.
Though, looking back to 2016, Shein gathered 800 designers and prototypers to manufacture Shein-branded clothing.
As of November 2021, there were 600,000 products in Shein.
As the company grows larger, it is most likely going to expand towards new fields and ofer more other products.
With its 600,000 products, the average price of items in Shein is around $9.
And this is exactly the reason why people love Shein so much. It offers fashionable clothe and other useful objects at lower prices than other companies.
Shein is currently accepting orders and selling to 150 countries.
Therefore, Shein is considered to be a really accessible platform being available in so many countries.
As of October 2022, there were 3,000 suppliers in partnership with Shein.
Source: Wall Street Journal
In 2020, Shein released 10,000 new items per month and 150,000 items throughout the year. In 2021, Shein released 2,000 new items in women’s clothing category alone.
Shein has multiple brands from shoes to clothing to beauty products. The following list shows us what brands are owned by Shein.
These are the key stats and key info on Shein mobile app on Android as of November 2022:
These are the key stats and key info on Shein mobile app on iOS as of November 2022:
Shein has over 184.98 million of downloads at the moment (combined from iOS and Android devices).
The following table shows us the number of combined app downloads from both Apple Store and Google Play.
Shein has a lot of new users every day. For instance, there are 5.4 million new users every day on the app. Take a look at the table below to see more stats.
The country where Shein is most visited is the US, with 39.73% of the app's total users. Then, there's Brazil, France, Spain, and Canada.
These are the top countries visiting Shein:
The average time people spend on Shein is 7 minutes and 40 seconds.
Shopping is fun, and the 7.40 minutes that people spend on average on Shein prove that lots of time is spent on purchasing new goods.
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