The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The Chinese cross-border fashion e-commerce company has stopped shipments to Indonesia, according to a notice on its Indonesian website, first reported by KRAsia.
Shein was founded in 2008 in Nanjing and this year has become the largest fast-fashion retailer in the US, according to a June report from Earnest Research. As of June 16, Shein comprised 28 percent of US fast fashion sales, surpassing H&M (20 percent), Zara (11 percent), Forever 21 (10 percent) and Fashion Nova (8 percent), the report said. The company now also boasts more app downloads in the US than Amazon.
In Southeast Asia, however, Shein has not acquired the same foothold among consumers. The firm established a formal presence in the region in June when it opened a regional hub in Singapore.
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Investment firms like Andreessen Horowitz are backing start-ups that mimic the Chinese fast-fashion giant’s blueprint, as they look to build the next big Gen Z label.
Local streetwear brands, festivals and stores selling major global labels remain relatively small but the country’s community of hypebeasts and sneakerheads is growing fast.
This week’s round-up of global markets fashion business news also features Senegalese investors, an Indian menswear giant and workers’ rights in Myanmar.
Though e-commerce reshaped retailing in the US and Europe even before the pandemic, a confluence of economic, financial and logistical circumstances kept the South American nation insulated from the trend until later.
This week’s round-up of global markets fashion business news also features Korean shopping app Ably, Kenya’s second-hand clothing trade and the EU’s bid to curb forced labour in Chinese cotton.