Shein Revenue and Growth Statistics (2024)

Shein Interesting Key Facts

• Shein was originally named ZZKKO.
• Shein is very popular among the Generation Z.
• By utilizing U.S. Legislative Bill Section 321 in the Trade Facilitation and Trade Enforcement Act of 2015 (also referred to as "de minimis"), Shein is able to avoid paying export and import taxes, contributing to much larger margins. It states that any import up to $800 per person is duty-free.
• Shein was the most talked about brand in Tiktok and Youtube in 2020.
• In October 2020, Shein was the world’s largest online-only fashion firm.
• In May 2022, Shein became the largest fashion firm in the world.
• Shein has amassed 250 million followers across all its social media platforms.
• It is reported that workers on Shein’s partnered factories are only earning 4 cents per piece produced.
• Fast fashion industry contributes to 8% - 10% of global carbon emissions.

Sources: BBC, Bloomberg, CBP, CNN, Wired, Euro News, Earth Org

Shein: Company Overview (About)

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.

Sources: Shein

What is Chris Xu’s Net Worth?

According to Forbes, Chris Xu (Shein Founder) has a current net worth of $10 billion.

Source: Forbes

How much is Shein worth? (Valuation)

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.

Sources: Techwire Asia, Forbes, The Wall Street Journal, CNN

What is Shein’s Revenue?

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.

Sources: Forbes, Techwire Asia, The Wall Street Journal, Bloomberg

Shein Acquisitions

In January 1 2015, Shein acquired Make Me Chic. Currently, there are no other acquisitions made by Shein, only this 1 so far.

Source: Crunchbase

What is Shein’s market share in the fast fashion industry (US)?

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.

Source: Yahoo Finance, Techwire Asia, Statista

Shein Investors

To this day, there are 9 investors in Shein. Below is a list with all of them.

Source: Crunchbase

Shein Funding History

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!

Source: Crunchbase

How does Shein make money?

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.

Source: Vox, Sourcing Journal

How many people work for Shein worldwide?

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!

Source: Shein

Gender distribution of Shein employees worldwide

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.

Source: Shein

How many designers does Shein have?

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.

Source: BBC, Vox

How many products are there in Shein?

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.

Source: BBC

What is the average price of items in Shein?

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.

Source: BBC

How many countries is Shein selling to?

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.

Source: Shein

How many suppliers are partnered with Shein?

As of October 2022, there were 3,000 suppliers in partnership with Shein.

Source: Wall Street Journal

How many items does Shein release?

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.

Source: Business of Business, Daxue Consulting

What are the brands owned by Shein?

Shein has multiple brands from shoes to clothing to beauty products. The following list shows us what brands are owned by Shein.

Sources: Channel News Asia, Shein 1, Shein 2, Shein 3, Shein 4, Shein 5, Shein 6, Shein 7, Shein 8, Shein 9, Shein 10

Shein Mobile App Stats: Android vs iOS

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:

Source: Google Play, Apple Store

Number of app downloads throughout the years

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.

Source: Statista

Shein Traffic Analysis Overview

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.

Source: HypeStat

Shein Traffic Sources

• Direct sources: 88.66% of the traffic
• Referral sources: 2.23% of the traffic
• Search sources: 6.21% of the traffic
• Social sources: 1.74% of the traffic
• Paid sources: 1.16% of the traffic

Source: HypeStat

Shein Traffic Source: Desktop vs Mobile

• 11.45% of the users visit the website through desktop devices
• 88.55% of the users visit the website through mobile devices

Source: HypeStat

What are the top countries visiting Shein?

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:

Source: Similarweb

How much time do people spend on 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.

Source: Similarweb