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European fashion retailers risk losing everything
By Julian Grindey, Partner, Sigma Efficiency
An ultra-secretive Chinese e-tailer is leaving the global fashion industry lagging behind.
S
hein is a trail-blazer in ‘real-time’ retailing, surpassing the‘ultra-fast fashion’ players like Boohoo and ASOS. So what must we learn from Shein, before they claim world domination?
Firstly there are ten stand-out features you need to know about this retail disrupter:
• Shein is the world's fastest-growing e-commerce company.
• It has the second most downloaded shopping app in the world.
• It’s website ranks No.1 for web traffic, putting them ahead of; Nike, Zara, Macys, Lululemon, Amazon and Adidas.
• Shein operates in nearly every major international market.
• It’s sales reached $10 billion in 2020; growing over 100% per year for each of the last 8 years.
• The company is based in China yet it spurned its local market in favour of selling abroad.
• Valued at $5 billion in January 2019 - just 18 months later its market cap. had increased to $15 billion.
• Inf luencers from Katy Perry, Rita Ora and Lil Nas X have helped make Shein’s clothing common place in every Gen Z wardrobe.
• Shein makes Amazon’s pricing look expensive.
• It's compared to fast-fashion or ultra-fast fashion brands like Zara, H&M, or ASOS, but… it’s much faster.
Even more impressive when you consider their success is in global Fashion retailing; a radically different and inherently risky category, presenting unique challenges:
• Short product life-span - clothes are seasonal by nature and fashions change faster than ever creating financial risk.
• Regional variants - what’s popular in Europe may have little similarity to what’s trending in America.
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