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.
Sales from the Chinese ultra-fast fashion brand grew 160 percent from January to June, according to data analytics company Earnest Research, which collects credit card data.
Shein now controls 28 percent of the American fast fashion market, according to Earnest, topping incumbents H&M, Zara, Forever 21 and Fashion Nova. In January 2021, H&M was the leading fast-fashion brand, controlling 23 percent of sales, but H&M’s hold has since declined to 20 percent. Other fast fashion brands like Asos, Boohoo, Missguided and Primark accounted for 23 percent of American fast fashion sales.
To read more about how Shein gamifies its loyalty program to keep shoppers hooked, read BoF’s analysis here.
The algorithms TikTok relies on for its operations are deemed core to ByteDance overall operations, which would make a sale of the app with algorithms highly unlikely.
The app, owned by TikTok parent company ByteDance, has been promising to help emerging US labels get started selling in China at the same time that TikTok stares down a ban by the US for its ties to China.
Zero10 offers digital solutions through AR mirrors, leveraged in-store and in window displays, to brands like Tommy Hilfiger and Coach. Co-founder and CEO George Yashin discusses the latest advancements in AR and how fashion companies can leverage the technology to boost consumer experiences via retail touchpoints and brand experiences.
Four years ago, when the Trump administration threatened to ban TikTok in the US, its Chinese parent company ByteDance Ltd. worked out a preliminary deal to sell the short video app’s business. Not this time.