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☆ Shein partners with Forever 21 in fast-fashion deal to expand reach of both companies
▼ + stars: | 2023-08-25 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +1 min

New York CNN —Fast fashion e-tailer Shein may be coming to a mall near you. Forever 21’s parent company Sparc Group announced on Thursday that it will partner with the online shopping giant in a deal that would see Sparc become a minority shareholder in Shein. Sparc is a partnership between retail real estate company Simon Group and Authentic Brands Group, whose portfolio includes brands like Brooks Brothers and Nine West. The deal will “provide Sparc Group a platform to further grow its brands,” Sparc said in a news release. Both are fast fashion brands, meaning they mass-produce cheap items that are often used and discarded at a rapid pace as consumers strive to keep up with the latest trends.

Persons: Shein, Brooks, Shein’s, ”, Marc Miller, ” Donald Tang Organizations: New, New York CNN, Sparc Group, Sparc, Simon Group, Authentic Brands, Brooks Brothers, Nine Locations: New York, Shein

☆ SPACs can't be killed
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

Chamath Palihapitiya, Founder and CEO of Social Capital, presents during the 2018 Sohn Investment Conference in New York City, U.S., April 23, 2018. Although SPACs raised just $13 billion last year, this week produced a deal that looks like it could have happened during the heyday. From U.S. presidential hopefuls’ forays to a continued SPAC king’s virality, SPACs’ reach is a reminder that they are hard to kill. This week, one of those SPACs bought Better.com, a mortgage lender led by Vishal Garg and backed by SoftBank Group (9984.T). They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Chamath Palihapitiya, Brendan McDermid, SPACs, Vishal Garg, Donald Trump, Vivek Ramaswamy, lister Chamath Palihapitiya, Anita Ramaswamy, Lauren Silva Laughlin, Sharon Lam Organizations: Social Capital, Investment, REUTERS, Reuters, SoftBank Group, Securities and Exchange Commission, X, KKR, Thomson Locations: New York City, U.S

☆ Shein signs deal with Forever 21 as fast fashion expands footprint
▼ + stars: | 2023-08-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShein signs deal with Forever 21 as fast fashion expands footprintJamie Salter, Authentic Brands CEO, Donald Tang, Shein executive chairman, and David Simon, Sparc Group director, join 'Squawk on the Street' to discuss Shein's latest partnership with Forever 21.

Persons: Jamie Salter, Donald Tang, David Simon Organizations: Authentic Brands, Sparc Group

The deal, which would give Shein a roughly one-third interest in SPARC Group, expands Forever 21's reach by bringing the label to Shein's online platform, which serves about 150 million users. The partnership also presents an opportunity for Singapore-based and China-founded Shein to step into Forever 21's retail locations across the United States. Under the agreement, SPARC Group would also become a minority shareholder in Shein. Shein's Forever 21 deal will help it reach beyond its core ultra-fast fashion, primarily Generation Z, customer base, Amlani said. The Forever 21 deal will also enable the fast-fashion retailer to test in-person experiences including "shop-in-shops" and allow customers to return merchandise in physical stores.

Persons: Dado Ruvic, Shein, Simon Property, Liza Amlani, Amlani, Savyata Mishra, Deborah Sophia, Shilpi Majumdar, Tomasz Janowski Organizations: REUTERS, SPARC Group, Forever, Brands, Simon, SPARC, Thomson Locations: Singapore, China, United States, Shein, Brazil, U.S, Bengaluru, Arriana, New York

☆ Shein Strikes Deal With Forever 21
▼ + stars: | 2023-08-24 | by ( Suzanne Kapner | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/retail/shein-strikes-deal-with-forever-21-71ec58a3

Persons: Dow Jones

☆ Shein and Forever 21 partner to expand brand reach
▼ + stars: | 2023-08-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShein and Forever 21 partner to expand brand reachCNBC's Courtney Reagan joins 'Power Lunch' to give the rundown of all the latest news from the retail sector.

Persons: CNBC's Courtney Reagan

☆ Shein and Forever 21 Team Up in Fast-Fashion Deal
▼ + stars: | 2023-08-24 | by ( Jordyn Holman | More About Jordyn Holman | ) www.nytimes.com time to read: +1 min

Shein, the e-commerce retailer founded in China, is partnering with the parent of Forever 21 to expand its reach into Americans’ closets. The tie-up will bring together two of the biggest names in the fast-fashion sector online and in malls across the country. As part of the agreement, Shein could one day operate stores-within-stores at Forever 21 outlets, while Forever 21’s clothes would be sold on Shein’s site. In the early 2000s, Forever 21 helped popularize the concept of fast fashion to American shoppers, standing out in malls with a revolving carousel of $5 tops and $10 dresses that hit racks more quickly than traditional department store schedules. Shein, founded in 2012 and now headquartered in Singapore, has gained popularity among American shoppers in recent years by taking fast fashion to the next level.

Persons: Shein Locations: China, Singapore

☆ Get ready to buy Shein clothes in Forever 21 stores
▼ + stars: | 2023-08-24 | by ( Grace Mayer | ) www.businessinsider.com time to read: +3 min

Fast-fashion retailers Shein and Forever 21 are partnering up. The partnership allows Forever 21 to sell merchandise on Shein's site, and Shein products could be sold in Forever 21 stores. The partnership will allow Shein to sell Forever 21 products on its website, and Forever 21 to add Shein sections in-stores, where customers could also return Shein items. The partnership could give Forever 21 exposure to a significant number of new consumers across the US and the globe, Saunders wrote. Sparc Group, a joint venture of Authentic Brands Group and Simon Property Group, operates Forever 21.

Persons: Neil Saunders, GlobalData, Shein, Saunders, Simon, Lucky Brand, Eddie Bauer, Brooks Organizations: Service, Street Journal, U.S, Forever, Sparc, Authentic Brands, Simon Property Group, Brookfield Property Partners, Reebok, Brooks Brothers, Sparc Group Locations: Wall, Silicon

☆ Shein strikes deal with fast-fashion retailer Forever 21 that will expand reach of both brands
▼ + stars: | 2023-08-24 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

A Shein App is shown in the iOS App Store in Bargteheide, Germany, May 3, 2021. Fast-fashion competitors Shein and Forever 21 have joined forces. Shein's deal with Forever 21 comes as it tries to distance itself from sharp criticism and gear up for a widely rumored U.S. initial public offering. While Shein and Forever 21 have similar shoppers, they have catered to those customers in different ways. By teaming up, Shein and Forever 21 will have new ways to reach customers.

Persons: Shein, Brooks, Lucky Brand, — CNBC's Gabrielle Fonrouge Organizations: Sparc Group, Sparc, Authentic Brands, Simon Property Group, Wall Street Locations: Bargteheide, Germany, Shein, China, Singapore, Dallas, Los Angeles

☆ Shein deal kills several birds with one stone
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

A Shein logo is pictured at the company’s office in the central business district of Singapore, October 18, 2022. REUTERS/Chen Lin Acquire Licensing RightsTORONTO, Aug 24 (Reuters Breakingviews) - Shein isn’t wasting any time in the U.S. battle for buyers of ultra-fast fashion. In exchange, Sparc will become a minority shareholder in Shein. The clever relationship kills a few birds with one stone. Shein is highly skilled at manufacturing TikTok-friendly wares, but has come under attack for its ESG credentials.

Persons: Chen Lin, Simon Property, Simon, Brooks, Sharon Lam, Coinbase’s, Lauren Silva Laughlin, Oliver Taslic Organizations: REUTERS, Rights, Reuters, Forever, Sparc, Authentic Brands, Authentic, X, Thomson Locations: Singapore, U.S, Shein, American

☆ Arm going public generates buzz but may not be a sign the IPO market is thawing
▼ + stars: | 2023-08-23 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

It's an old saw: The most important factors for a strong IPO market are an up market and stable interest rates. The problem is that there is not much similarity between Arm and tech unicorns. It's a tough choice: Negotiate onerous new rounds of funding with venture capital firms, or go public at a lower valuation. But if you can't, you either take another lower funding round or go public at a lower valuation." Many companies still looking to go public "This won't open the floodgates for tech unicorns," Kennedy said.

Persons: Rivian, Matt Kennedy, Santosh Rao, Rao, Johnson, Kennedy, Don, Softbank, Birkenstock Organizations: Labor, Renaissance Capital, Manhattan Venture Research, London Stock Exchange, Nasdaq, Softbank, Vision Group, PayPal, Shein Locations: China, IPOs

☆ Look of the Week: Is it ever okay to wear white to a wedding à la Lana Del Rey?
▼ + stars: | 2023-08-22 | by ( Leah Dolan | ) edition.cnn.com time to read: +3 min

And perhaps the single-most asked question: Can you ever wear white? Every June since 2014, Google searches querying the choice to wear white as a wedding guest increased on average by 46%. Lana Del Rey arrived at the high-profile wedding in a white and pink dress some are saying was too close to bridalwear. Peter Cruz/SplashNews.com“I love you Lana but you can’t wear white to a wedding!! Hopefully, at the very least, she didn’t play “White Dress.”

Persons: upstaged, Lana Del Rey, Margaret Qualley, Jack Antonoff, Rey, Zoe Kravitz, Taylor Swift, Cara Delevigne, Peter Cruz, SplashNews.com, Lana, ”, “, Tish Cyrus, Miley, Noah Cyrus, Dominic Purcell, bridesmaids, Cyrus, clamor, Shein, it’s, Margaret ” — Organizations: CNN, Google Locations: cardigan, bridalwear, Australian, Malibu

☆ Recalled products linked to more than 100 infant deaths still for sale on Facebook, lawmakers say
▼ + stars: | 2023-08-22 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Recalled baby products linked to more than 100 infant deaths are still widely sold on Facebook Marketplace despite thousands of requests from federal regulators to take down the items, four members of Congress said. Lawmakers wrote that the Consumer Product Safety Commission has sent Facebook parent Meta about 1,000 requests a month since 2022 to remove the recalled Boppy Newborn Lounger, but the product keeps cropping up for sale on the platform. In June, the CPSC's commissioners sent a letter to Zuckerberg calling on him to do more to prevent the sale of the recalled products. In the letter, the members of Congress asked for more information about Meta's product safety policies, how it monitors recalls and how many staff members are dedicated to consumer-product safety issues. But they did not accuse the companies of selling recalled products.

Persons: Mark Zuckerberg, Fisher, Price, Boppy Newborn, Cathy McMorris Rodgers, Frank Pallone Jr, Gus Bilirakis, Jan Schakowsky, Meta didn't, Zuckerberg, Meta Organizations: Facebook, Lawmakers, Consumer Product Safety Commission, Washington Republican, House Energy, Commerce, New, New Jersey Democrat, CNBC, Target, Walmart, eBay Locations: Washington, New Jersey

☆ The 'secret sauce' that helps Shein predict the next hot trend has nothing to do with AI, company exec says
▼ + stars: | 2023-08-18 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +7 min

But the way Shein uses data and determines demand has been a point of contention. Just as TikTok or Instagram tracks what you search or how long you engage with a particular video, Shein gathers similar data from its shoppers. This is a common practice in retail — many other brands track similar data on their sites. To measure demand, Shein's site then conducts statistical sampling to understand what sequence of steps led a customer to any given purchase. Kristy Sparow/GettyThe 'secret sauce' behind Shein's on-demand fashionThe technology Shein uses to determine trends isn't new — many online retailers collect similar data to track customer behaviors.

Persons: Shein, Peter Pernot, Shein's, Kristy Sparow, Hailey Bieber Organizations: Service, International Labour Locations: Wall, Silicon, Guangdong province, China, Brazil, Turkey

☆ I bought nearly identical hauls from Shein, Temu, and Amazon and was shocked to see which store had the best quality
▼ + stars: | 2023-08-16 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +9 min

I shopped on Amazon, Shein, and Temu to compare the experience and quality. Jennifer Ortakales Dawkins/InsiderWhen I unwrapped the Amazon shoes, I was really disappointed in the quality. The Shein pants (left) fit more loosely, while the Amazon pants (middle) and Temu pants (right) were an awkward tight fit. The Shein and Temu hair clips were identical and smaller than they appeared in the listing photos. But when I attempted the return, Shein didn't give me a shipping label and processed an immediate refund instead.

Persons: Temu, Jennifer Ortakales Dawkins, Shein, I'd, Aldo, Shein didn't, I'm Organizations: Service, Amazon, Fastest Shipping, Temu Locations: Wall, Silicon, Amazon's

☆ Opinion: Hitting the gym or going to yoga? Your workout clothes could be doing more harm than you realize
▼ + stars: | 2023-08-16 | by ( Opinion Alden Wicker | ) edition.cnn.com time to read: +13 min

BPA is an endocrine disruptor, meaning that it mimics or interferes with the body’s hormones. It governs weight management and your energy levels, not to mention your skin’s appearance and your ability to fend off illness. Others have tried to argue that some of the chemicals in clothing fell within the legal and regulatory limits. The signs that something is very, very wrong with our reproductive health and endocrine systems are myriad. After all, you might be undoing the benefits of hitting the gym every day when your workout clothes could be doing so much damage to your health.

Persons: Alden Wicker, Athleta, Alden Wicker Alden Wicker, There’s, bisphenol, Ashley Eskew, “, Thinx, ” Dr, Laura Vandenberg, Down, ”, Shanna, Dr, Graham Peaslee, PFAS, Swan, lipsticks, ‘, ” Eskew, Eskew Organizations: New York Times, Vox, Wired, CNN, Center for Environmental Health, Nike, IKEA, Canadian Broadcasting Corporation, CBC, US Environmental Protection Agency, Industry, University of Massachusetts Amherst, of Environmental Health Sciences, Notre, Twitter Locations: Putnam, California, Patagonia, ” North Carolina, Spain

☆ I bought heels, pants, and a hair clip from Amazon, Shein, and Temu. One outfit was a big disappointment, the other was just OK — and the third was surprisingly well-made and stylish.
▼ + stars: | 2023-08-15 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +9 min

I shopped on Amazon, Shein, and Temu to compare the experience and quality. The Shein pants (left) fit more loosely, while the Amazon pants (middle) and Temu pants (right) were an awkward tight fit. The Shein and Temu hair clips were identical and smaller than they appeared in the listing photos. But when I attempted the return, Shein didn't give me a shipping label and processed an immediate refund instead. I decided to return the shoes, pants, and hair clip from Temu.

Persons: Temu, Jennifer Ortakales Dawkins, Shein, I'd, Aldo, Shein didn't, I'm Organizations: Service, Amazon, Fastest Shipping, Temu Locations: Wall, Silicon, Amazon's

☆ How Temu makes money from super-cheap goods like $10 smartwatches
▼ + stars: | 2023-08-14 | by ( Devan Burris | ) www.cnbc.com time to read: +1 min

Bargain e-commerce company Temu has had a whirlwind 2023. By February 2023, the 5-month-old company made its TV debut during Super Bowl LVII, airing two commercial spots totaling an estimated $14 million. Temu's popularity is largely due to its ultra-cheap knockoffs. On top of the steep discounts, users are bombarded by coupons, free shipping countdowns, flash sales and discount wheels. Temu's rise in popularity has also courted scrutiny from the U.S. government, accusing the website of exploiting de minimis shipping rules to undercut U.S. retailers.

Persons: Temu, Yeezy, Neil Saunders, They're, Pinduoduo Organizations: Walmart, Apple, GlobalData, U.S . Locations: Boston, China, U.S

☆ How fast-growing e-commerce app Temu makes money from $10 smartwatches
▼ + stars: | 2023-08-14 | by ( Devan Burris | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow fast-growing e-commerce app Temu makes money from $10 smartwatchesBargain e-commerce company Temu has had a whirlwind 2023. Quietly launching its app in September 2022, it only took the company a few weeks to top app store charts, edging out Amazon, Walmart and even fast-fashion brand Shein.

Persons: Temu Organizations: Walmart

☆ Chinese online retailer Pinduoduo has a 'hyper-aggressive' culture with hours surpassing a '996' schedule, analysts write
▼ + stars: | 2023-08-11 | by ( Madeline Stone | ) www.businessinsider.com time to read: +3 min

Temu's sister company Pinduoduo may have a "9127" culture, Bernstein analysts wrote. This is a play on "996" work culture, which encourages work from 9 a.m. to 9 p.m., six days a week. Temu sister company Pinduoduo is known for having an exceptionally intense workplace culture, Bernstein analysts wrote in a note published this week. "996" is a reference to a work culture that encourages tech employees to work from 9 a.m. to 9 p.m., six days a week. While Shein remains ahead of Temu in terms of buyer awareness, Temu sees high buyer retention rates, the Bernstein analysts noted.

Persons: Temu's, Bernstein, Temu, Jack Ma, Richard Liu Qiangdong, Robin Zhu, Pinduoduo, Shein Organizations: Morning, PDD Holdings, Pinduoduo, Representatives, Local Locations: China, Shanghai

☆ Behind the rise of GU: The Uniqlo offshoot loved by millennials and Gen Z is the latest cool-kid brand
▼ + stars: | 2023-08-07 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +4 min

The fast-fashion brand targets Gen Z with stylish, affordable clothing. The brand sells basics like T-shirts as well as trendy pieces like cargo pants. GU was created in 2006 as a sister brand to Uniqlo geared toward Gen Z shoppers. GU sells basics as well as trendy pieces for Gen Z and millennials. Much like Uniqlo, GU carries basics like logo-free t-shirts, simple sweaters, minimalist shoes, and dressy-casual pants.

Persons: Julissa Degante, Felix Garcia, Garcia, Degante, Gen, Jennifer Ortakales Dawkins, didn't, Chris, Zers, You'll, Hulu's Organizations: GU, Service, Uniqlo's Broadway, Fast Retailing Locations: Wall, Silicon, Uniqlo's, New York, Soho, Asia, Uniqlo, Malibu

☆ Focus: Key trade loophole keeps cheap Chinese products flowing to US
▼ + stars: | 2023-08-04 | by ( Katherine Masters | ) www.reuters.com time to read: +6 min

Data from U.S. Customs and Border Protection shows that de minimis shipments into the U.S. rose to 685.5 million in 2022, up nearly 67% over 2018. That equals roughly two to three million packages a day, Robert Silvers, Under Secretary for Policy at the Department of Homeland Security, told lawmakers in July. A bipartisan group of U.S. lawmakers in June introduced bills that would ban de minimis shipments from China upon enactment. Rival U.S. retailers also have grown increasingly concerned about the exemption as Shein and Temu have gained market share. In 2015, Congress raised the cap on de minimis shipments to $800 from $200, making the U.S. threshold one of the highest in the world.

Persons: Dado Ruvic, Shein, Peter Pernot, Robert Silvers, minimis, Jason Smith, Temu, Steve Story, They're, Erik Autor, Katherine Masters, Anna Driver Organizations: REUTERS, PDD Holdings, U.S, Reuters, American Apparel and Footwear Association, de, U.S . Customs, Border Protection, Department of Homeland Security, Republican, Columbia, Apex Logistics International, UPS, FedEx, Barlow & Company, Thomson Locations: China, U.S, Beijing, Mexico, Canada

E-commerce app Temu is taking on the larger Shein by selling cheap Chinese-made goods to Western consumers. The company owned by $119 billion PDD (PDD.O) is more like an online dollar store. Moreover, Temu offers generous discounts and free or subsidised shipping to users. Parent company PDD, whose Pinduoduo e-commerce unit competes with Alibaba (9988.HK) and JD.com (9618.HK) in China, discloses little about its overseas business. Temu offers everything from home appliances to electronics to toys, making it more of a direct competitor to Amazon.

Persons: Shein, Breakingviews, Temu, PDD, Bernstein, Peter Thal Larsen, Aditya Munjuluru, Thomas Shum Organizations: Reuters, United States, Wall Street, Temu, Bloomberg, HK, PDD, Thomson, & $ Locations: HONG KONG, Western, China, U.S, United States, Shein

Amazon previously said it is seeing a decrease in growth in AWS as business clients reallocated their spending to reduce costs. Investors are also looking to see how Amazon's advertising business intersects with more language models and generative AI. The company's advertising business was seeing "robust growth" due to its machine learning investment, Chief Executive Andy Jassy said in the first-quarter earnings call. Net sales of Amazon's advertising business in the first quarter were $9.51 billion. Amazon's first-quarter operating income was $4.77 billion a 74.4%% increase from $2.74 billion in the fourth-quarter and a 30.1% increase from last year.

Persons: Tom Forte, Forte, Brian Olsavsky, Andy Jassy, Arun Sundaram, China's Temu, Sundaram, Amazon's, Arriana McLymore, Aurora Ellis Organizations: Investors, Web Services, Microsoft, Amazon, Google, Davidson Companies, YouTube, Thomson Locations: NY, Refinitiv, Singapore, United States, New York City

☆ China-Founded Rivals Shein and Temu Ramp Up War for American Shoppers
▼ + stars: | 2023-07-30 | by ( Shen Lu | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

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