Key Insights
Essential data points from our research
Shein was valued at $66 billion as of May 2023
Shein overtook Amazon as the most downloaded shopping app in the U.S. in 2021
Shein adds between 2,000 to 10,000 new products to its site every day
Shein generated $23 billion in revenue in 2022
Shein's net profit in 2022 was $800 million
Shein reached 75 million active shoppers in 2022
70% of Shein customers are under the age of 35
Shein uses a network of over 6,000 suppliers in China
Shein’s app was downloaded 229 million times in 2022
Shein ships to over 150 countries worldwide
Shein’s average delivery time to the U.S. is 10-15 days
Shein held approximately 50% of the U.S. fast fashion market in 2022
Shein plans to go public with a valuation exceeding $60 billion
Corporate Structure & Governance
- Shein plans to go public with a valuation exceeding $60 billion
- Shein employs over 10,000 workers globally
- Shein's founder and CEO is Chris Xu, who maintains a low public profile
- Shein has offices in the U.S., Singapore, and Brazil
- Shein’s headquarters recently moved from Nanjing to Singapore
- Shein’s founders reportedly considered IPOs in both the U.S. and U.K.
- Shein’s corporate structure involves multiple shell companies registered abroad
Interpretation
Beneath Shein's $60 billion fast-fashion empire—stitched together by 10,000 global workers, stitched across continents, and stitched through a web of offshore entities—lies a business model as elusive as its low-profile CEO.
Financial Performance
- Shein was valued at $66 billion as of May 2023
- Shein generated $23 billion in revenue in 2022
- Shein's net profit in 2022 was $800 million
- Shein’s U.S. market revenue was $8 billion in 2022
- In 2021, Shein’s revenue increased by 60% compared to 2020
- Shein’s revenue surpassed that of both H&M and Zara by 2022
Interpretation
With a $66 billion valuation stitched together by $23 billion in annual revenue and a needle-sharp $800 million profit, Shein isn’t just outpacing fast fashion giants like H&M and Zara—it’s tailoring a whole new high-speed business model, with serious economic clout and even more serious ethical questions.
Market Presence & Consumer Behavior
- Shein overtook Amazon as the most downloaded shopping app in the U.S. in 2021
- Shein reached 75 million active shoppers in 2022
- 70% of Shein customers are under the age of 35
- Shein’s app was downloaded 229 million times in 2022
- Shein ships to over 150 countries worldwide
- Shein held approximately 50% of the U.S. fast fashion market in 2022
- Over 2.1 million Shein-related videos were posted on TikTok in 2022
- In 2021, Shein overtook H&M and Zara in the U.S. fast fashion market share
- Shein's monthly site traffic surpassed 100 million visits in 2023
- Shein's return rate is less than 10%, lower than the industry average of 20-30%
- 21% of Gen Z consumers in the U.S. shop on Shein monthly
- Shein’s TikTok hashtag (#SheinHaul) has more than 15 billion views
- Shein has over 250 million website visits per month as of 2023
- Shein's customer satisfaction rating in the U.S. is 3.3 out of 5 stars
- In 2022, Shein spent over $1 billion on social media influencer marketing
- Shein was the most visited fashion and apparel website globally in 2022
- Shein’s average basket size is around $75
- In 2023, Shein partnered with Forever 21 to expand brick-and-mortar presence
- Over 70% of Shein’s customers shop via mobile app
- Shein's overall customer return rate is 6.3%
- Shein contributed 0.5% to all global e-commerce sales in 2022
- Shein's popularity on Reddit increased 135% from 2021 to 2022
- Over 3,000 influencers work with Shein on a monthly basis
- Shein ranked #1 among fashion brands in App Store downloads in 2022
- Shein’s influencer program offers up to 20% commission per sale
- Over 50% of Shein’s users are repeat customers
- Shein’s average customer is a female between the ages of 16-24
- 84% of Shein's users discover the brand through TikTok
- Shein spends roughly $15 million per month on digital marketing
- Shein’s resale platform saw 100,000 listings in the first three months
- 61% of Shein users say low prices are the main attraction
- 42% of Gen Z consumers named Shein as their favorite apparel brand
Interpretation
With the marketing muscle of an empire and the click-speed allure of ultra-low prices, Shein has transformed from a digital fast fashion underdog into a Gen Z shopping juggernaut—reigning over smartphones, redefining retail, and raising serious questions about the true cost of convenience.
Product & Supply Chain Strategy
- Shein adds between 2,000 to 10,000 new products to its site every day
- Shein uses a network of over 6,000 suppliers in China
- Shein’s average delivery time to the U.S. is 10-15 days
- Shein’s average product price is under $10
- Shein sellers are expected to produce new samples within 7 days
- Shein does not own factories but contracts manufacturing to 6,000+ third-party suppliers
- 85% of Shein's workforce is located in China
- Shein operates distribution centers in the U.S., Europe, and Asia to reduce delivery time
- Shein uses AI to predict which trends will be popular
- Shein’s warehouses can ship over 1 million packages daily
- Shein sources production through a “test and repeat” model minimizing leftover stock
- In 2022, Shein launched “Shein X” to support rising designers
- Shein’s supply chain allows for production cycles as short as 7 days
- Shein uses 3D modeling to create designs in under 24 hours
- In 2023, Shein announced plans to invest $750 million in supplier upgrades
- Over 95% of Shein’s products are private label
- Shein uses a 3-person review team to assess every designer product submission
Interpretation
Shein has turned fashion into fast food—serving up tens of thousands of ultra-cheap styles daily through an AI-fueled, globally outsourced supply machine so efficient it blurs the line between trendsetting and trend-chasing, raising serious questions about sustainability, labor, and the true cost of a $5 shirt.
Sustainability & Regulatory Issues
- Shein faces over 200 active legal cases relating to design theft
- Shein’s carbon emissions are equal to 6.3 million tons per year
- Shein launched resale platform Shein Exchange in October 2022
- Shein has faced criticism from NGO groups for labor practices
- Shein has faced over 50 lawsuits alleging copyright infringement
- 35% of Shein factory workers interviewed in a 2021 audit exceeded 60 hours per week
- Shein plans to cut GHG emissions by 25% by 2030
- 37% of Shein products are made from synthetic fiber materials
- Shein’s packaging uses recycled materials for some products
- Shein launched a $50 million circularity fund in 2022
- Shein has faced U.S. Congressional inquiry over alleged forced labor ties
Interpretation
Behind Shein’s glossy ultra-fast fashion empire lies a tangled thread of environmental damage, labor exploitation, and legal strife—only partly stitched over by resale platforms, recycled packaging, and ambitious pledges.