Emma McIntyre/Getty Images for SHEIN Together Fest 2021īackers of the firm include marquee investors, such as Sequoia Capital China and Tiger Global. Steve Aoki performing onstage at a Shein event in Los Angeles earlier this year. In mid-May, it overtook Amazon as the most installed shopping app in the United States across the App Store and Google Play combined, according to analytics firms App Annie and Sensor Tower. In the first half of this year alone, Shein’s app racked up more than 81 million downloads around the world.
Shein’s more direct competition comes from the likes of British fast fashion retailers Boohoo and ASOS, which concentrate most of their firepower online, target young female shoppers and tend to offer more affordable items. But the two longtime heavyweights also run brick-and-mortar stores, cater to a wider customer base and sell at slightly higher prices. Shein competes with Zara and H&M for customers who want the latest trends for less, and all three companies sell their own branded goods. The research firm declined to provide further information, saying that the finding was part of a proprietary project. As of last October, it was the world’s largest online-only fashion company, as measured by sales of goods under the company’s own brand, according to Euromonitor International. Benett/Dave Benett/Getty Images for SHEINįast forward to the pandemic, which has helped Shein generate explosive growth and become one of the few Chinese consumer brands to win global acclaim. Guests attending a Shein pop-up event in May 2019 in London. It later branched out to general womenswear, adopting the name “Sheinside.” In 2015, the company rebranded again, saying it wanted a name that was easier to remember and search for online. The experience he gained as a marketing and search engine optimization consultant would later prove instrumental in creating the site’s powerful algorithm, according to Coresight Research.Īt first, the company only sold wedding dresses, said Schmidt. Shein was born under a different name - ZZKKO - in China, where it was started in 2008 by Chris Xu. “Because I was getting the same things that I saw at H&M, but like, for cheaper.” “I just stopped buying from H&M when I started using Shein,” said Sachan, who often scours the site for new accessories and once scored a necklace for 9 Hong Kong dollars ($1.20). Shein’s ability to lure users to its platform is one of its main ingredients for success, along with its hyper-fast production process, bargain basement pricing and data-driven product offerings. “It is pretty addictive,” said Sachan, describing the experience as similar to playing a mobile game. Shein awards them to customers for everything from opening the app to watching live streams and entering outfit design contests.
The more you get, the more you can save on purchases. Sachan checks the Shein app daily for the same reason many others do: to get points. Shein's app and website seen in Hong Kong.
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