SHEIN Announces the Launch of the evoluSHEIN Series
Recently, China’s cross-border e-commerce giant, SHEIN, a global real-time fashion pioneer, announced the launch of the evoluSHEIN series, which supports Body Positivity through “size inclusiveness” and uses “environmentally friendly” fabrics to demonstrate its environmentally friendly stance. In addition, the company partnered with Vital Voices, an international nonprofit that invests in women leaders, addressing gender-based violence, the climate crisis and economic inequality, in an attempt to build a brand identity as a supporter of Women’s Empowerment Worldwide. “We are committed to building a more responsible fashion ecosystem,” explains Adam Whinston, global head of ESG. “evoluSHEIN touches on multiple ESG focus areas, including protecting the environment, supporting communities and empowering entrepreneurs.”
Marketplace Pulse data shows that SHEIN became the most downloaded app in all categories on the iPhone App Store in the United States on May 3, surpassing giants such as TikTok, Instagram, and Twitter, and far surpassing Amazon. The app topped the shopping category for the first time in May 2021.
According to Bloomberg News on April 10, SHEIN is currently considering a round of financing at a valuation of $100 billion, which would make the company worth the same as Elon Musk’s SpaceX and surpass the combined value of H&M and Zara. In fact, as early as June 2021, SHEIN’s sales in the U.S. market were already equal to the sum of the two fast fashion giants H&M and Zara.
In the previously released “European and American markets are increasingly anti-fast fashion, how do Chinese “real-time fashion” women’s clothing brands respond to ESG challenges? “In the article, Yuanqi Capital elaborated on the refutation of fast fashion and “moral consumption”. Real-time fashion accurately captures real-time consumer demand through algorithms, and realizes agile production through flexible supply chains, thereby reducing costs, improving efficiency, and transforming traditional fast fashion. The advantage is pushed to the extreme. At the same time, from environmental pollution, excessive waste, design plagiarism, to labor welfare and consumer addiction, SHEIN inherits not only its advantages, but also the huge social pressure that traditional fast fashion brands have faced in terms of environmental and social impacts.