DIRS.INFO The most relevant business & tech news

☆ 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

☆ 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

☆ 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

Reuters reports the fast fashion retailer is targeting a U.S. IPO in the second half of 2023. Shein notched its highest profit ever during the first half of this year, the company told investors in a letter, as rumors swirl over whether the fast-fashion juggernaut will file for a U.S. public offering. "We recorded the highest first half net profit in the company's history, compared to a near break-even during the same period in 2022," Tang wrote in the letter. In the letter, Tang delved into Shein's marketplace strategy and its recent launch in Brazil and the U.S. "This now makes up over one-third of Brazilian total [gross merchandise value]," Tang noted.

Persons: Shein, Donald Tang, Tang, Gen, Tang didn't Organizations: Reuters, U.S, CNBC, Wall Street Locations: Tokyo, U.S, Brazil, Mexico, Germany, Spain, France, Italy

Shein has denied using forced labor and that it was planning to go public in the U.S. this year. U.S. lawmakers are also questioning Shein's data privacy and use of a U.S. duty exemption on low-priced direct shipments to consumers. Shein's $600,000 lobbying outlay, filed on Friday, does not put it "among the biggest spenders," Auble said. By contrast, U.S. retailers Walmart spent $1.62 million and Gap spent $140,000 in the second quarter, lobbying disclosures showed. Since the 2022 third quarter, Shein has paid lobbying firms Hobart Hallaway & Quayle Ventures $500,000; and Akin, Gump Strauss Hauer & Feld $270,000, the firms' filings showed.

Persons: Daniel Auble, Shein, Auble, Akin, Gump Strauss Hauer, Feld, Arriana McLymore, Richard Chang Organizations: YORK, Capitol, Center for Responsive, Securities and Exchange Commission, Reuters, Labor, Walmart, Hobart Hallaway, Quayle, Thomson, & $, & $ Locations: China, Singapore, U.S, New York City

☆ Shein and Temu are slapping each other with lawsuits as their epic battle for Gen Zers heats up
▼ + stars: | 2023-07-19 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +4 min

Shein alleged Temu infringed on its trademark and Temu alleged Shein violated antitrust laws. Now Temu is fighting back with its own lawsuit against Shein, filed last week. In Shein's lawsuit against Temu, the company alleged that Temu attempted a deliberate scheme to impersonate the Shein brand by creating fraudulent Twitter accounts. Shein also alleged that Temu contracted influencers to make disparaging comments about Shein. In Temu's lawsuit against Shein, the company alleged that Shein forced clothing manufacturers to sign agreements not to work for its rival.

Persons: Shein, Temu, Gen, they've, influencers Organizations: Service, Twitter, Reuters, Wall Street Journal, Bloomberg, Temu, Shein Locations: Wall, Silicon, Chinese, Singapore, China, Shein, Temu

REUTERS/Chen Lin/File PhotoJuly 17 (Reuters) - Chinese e-retailer Temu has filed a new lawsuit accusing rival Shein of violating U.S. antitrust law in its dealings with clothing manufacturers, escalating a legal clash for dominance in the fast-fashion market. Temu, represented by prominent U.S. law firm Boies Schiller Flexner, filed the new case on Friday in Boston federal court. The two companies are already embroiled in litigation in Chicago federal court, where Shein has alleged Temu worked with influencers to disparage Shein on social media. Temu's complaint alleged Shein "forces manufacturers to sign loyalty oaths certifying that they will not do business with Temu." A spokesperson for Shein on Monday said Temu's lawsuit was "without merit and we will vigorously defend ourselves."

Persons: Chen Lin, Temu, Shein, Boies Schiller Flexner, influencers, YipitData, Temu's Boies Schiller, Denise Casper, Philip Korologos, James Denvir, Boies Schiller, Mike Scarcella, Josie Kao Organizations: REUTERS, Temu, Shein, District of, Thomson Locations: Singapore, Boston, Chicago, U.S, United States, Los Angeles, China, Europe, Asia, District of Massachusetts

☆ Shein accused of using a mind-boggling mix of shell companies and algorithms to steal clothing designs, new RICO lawsuit alleges
▼ + stars: | 2023-07-13 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +3 min

Fast fashion retailer Shein was accused in a federal lawsuit of directly copying designers' work. The lawsuit also accuses Shein of racketeering and claiming copyright infringement is central to the business model. The suit went on to allege that Shein's practice of using a conglomeration to facilitate the copyright infringement amounts to racketeering. They also offered her $500, an offer that the lawsuit claimed was consistent with other designers' experiences. It's hardly the first time that Shein has faced legal action related to allegations of copyright infringement.

Persons: Shein, Krista Perry, It's, Oakley, Ralph Lauren Organizations: Service, Street Locations: Wall, Silicon, Los Angeles

☆ Shein parent company wants to force Twitter to reveal who is behind fake accounts impersonating the fast fashion brand
▼ + stars: | 2023-07-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

The parent company of Shein has accused rival fast fashion company Temu of online impersonation. Shein is also suing Twitter to reveal whether Temu was behind fake accounts that used its trademark. Ltd., the Singapore-based parent company of the Chinese brand Shein, argues that fake Twitter accounts use Shein trademarks to advertise non-Shein products and damage the brand's reputation. Accounts accused of impersonating the Shein brand have been suspended. "We understand that any further attempt to resolve this without Court intervention is futile," Roadget Business lawyers ominously wrote to Twitter's legal team in May.

Persons: Shein, Temu, —, Katherine Tangalakis, ominously Organizations: Twitter, Service, Shein, Roadget, Ltd, Roadget Business, Lippert, Temu Locations: Wall, Silicon, Singapore

☆ Shein is trying to broaden its appeal by luring luxury brands like Stuart Weitzman and Paul Smith to sell products on its marketplace
▼ + stars: | 2023-07-08 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

As part of its marketplace, Shein is offering a wide range of products from third-party sellers. Brands interested in selling on Shein must first reach $2 million in annual sales on Amazon, the Journal reported. Shein Marketplace sellers are eligible to receive incentives from the Chinese-owned company if they reach sales goals. For those that qualify, the company is offering big incentives to sell on Shein too. In the months following the marketplace launch, Shein has dealt with sellers offering counterfeit items on the platform.

Persons: Peter Pernot, Paul Smith, Stuart Weitzman, Shein, Sneakerheads Organizations: Brands, Service, Street Journal, Euromonitor International Locations: Wall, Silicon, United States

☆ Shein wants to be the next Amazon Marketplace. It's already dealing with counterfeits and copyright issues.
▼ + stars: | 2023-07-06 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +4 min

Until recently, Shein has relied on sourcing its products through its on-demand manufacturing model. Last month, the Chinese-owned e-commerce company expanded its marketplace beyond clothing and introduced home appliances, electronics, gardening supplies, and kitchen utensils, among other categories. But to grow its offerings, the company took a page out of Amazon's Marketplace playbook and opened its marketplace to third-party retailers in May. In doing so, it may invite more of the same counterfeit and copyright infringement issues that Amazon's marketplace has faced. In 2020, Amazon established its Counterfeit Crimes Unit, which works with brands to identify and remove counterfeit products.

Persons: Shein, —, skimpy swimsuits, Ralph Lauren, Oakley, Martens, sneakerheads Organizations: Service, Nike Air, US Customs, US Chamber of Commerce, Amazon, Bloomberg Locations: Europe, China

Goldman Sachs (GS.N), Morgan Stanley (MS.N) and JPMorgan Chase (JPM.N) are among the banks helping Shein with its IPO preparation, according to six of the sources. Didi was delisted from the New York Stock Exchange (NYSE) a year later amid Beijing's crackdown on Chinese technology giants over antitrust and data security rules. Shein officials in Singapore, where the company is headquartered, declined to comment on any IPO plans or on discussions with the investment banks and exchanges. Last week, Reuters reported that Shein had filed its IPO registration confidentially with the U.S. Securities and Exchange Commission. Shein was valued at more than $60 billion in a $2 billion private fundraising round in March.

Persons: Goldman Sachs, Morgan Stanley, JPMorgan Chase, Didi Global's, Didi, Shein, Chris Xu, Kane Wu, Julie Zhu, Greg Roumeliotis Organizations: YORK, Shein, New York Stock Exchange, Nasdaq, JPMorgan, NYSE, Reuters, U.S . Securities, Exchange Commission, SEC, General Atlantic, Tiger Global, Sequoia Capital, Thomson Locations: China, United States, Singapore, U.S, Beijing, Washington , U.S, Ukraine, China's Xinjiang, Xinjiang, Sequoia Capital China, Nanjing, China's, Jiangsu, Hong Kong, New York

☆ Story on Shein's IPO plans withdrawn
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: 1 min

July 4 (Reuters) - The June 29 story on Shein has been withdrawn because it incorrectly stated that the China-founded online retailer had registered with U.S. regulators for an initial public offering. A new story will follow. STORY_NUMBER: L1N38L1WFSTORY_DATE: 29/06/2023STORY_TIME: 1830 GMTOur Standards: The Thomson Reuters Trust Principles.

Persons: Shein Organizations: U.S, Thomson Locations: China

☆ Shein's rise: How the wildly popular but controversial Chinese brand became the most feared fast-fashion retailer in the world
▼ + stars: | 2023-07-01 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +1 min

Shein is a fast-fashion retailer that produces thousands of garments and accessories at a rapid pace. In 2022, the company was worth $100 billion — more than fast-fashion predecessors H&M and Zara combined. Shein has faced mounting backlash from critics who allege that it uses questionable labor practices and contributes to climate pollution. In its latest PR stunt, Shein invited influencers to visit its innovation center in China. After posting glowing reviews of their trips, the influencers faced a lot of backlash for ignoring mounting allegations of questionable labor ethics and concerns about Shein's role in climate pollution.

Persons: Zara, Shein, influencers Organizations: Service, Gen Locations: China

☆ H&M is selling $1.70 crop tops to compete with Shein
▼ + stars: | 2023-06-30 | by ( Grace Mayer | ) www.businessinsider.com time to read: +2 min

H&M is selling some crop tops for $1.70. H&M appears to taking a more aggressive pricing strategy in response to the threat from Shein. One of the crop tops, which comes in black and white, was marked down on Friday by nearly 70% from $4.99. Shein, the Singapore-based online retailer, first surged in popularity during the pandemic when customers were scouring for affordable retailers. A spokesperson for H&M declined to comment on when the brand started discounting tops to as low as $1.70.

Persons: —, Shein, Zara, Temu Organizations: Service, Street Journal, Google, UBS, Shein, Bloomberg Locations: Singapore, Shein

☆ China's Shein denies U.S. IPO rumors
▼ + stars: | 2023-06-30 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Two people hold two Shein bags after entering SHEIN's first physical store in Madrid, Spain, June 2, 2022. Chinese fast fashion giant Shein on Friday denied a Reuters report that said it has confidentially filed for an initial public offering in the U.S."Shein denies these rumors," a Shein spokesperson told CNBC. Shein was recently valued at $64 billion, according to Reuters. Shein told CNBC last week its policy is to "comply with the customs and import laws of the countries in which we operate" and that it will continue to "make import compliance a priority." Reuters noted the listing could make Shein the most valuable Chinese company to go public in the U.S. since Didi Global.

Persons: Shein, Chris Xu, Didi Organizations: Reuters, CNBC, . House, New Locations: Madrid, Spain, U.S, New York

☆ T.J. Maxx's small presence on the web is giving Shein and Temu a big advantage
▼ + stars: | 2023-06-30 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +5 min

Analysts said that rivals like Shein and Temu pose "major threats" to brands like T.J. Maxx. Certain brands can't be searched for directly by name on T.J. Maxx's online store. E-commerce is just a small part of TJX's businessShein and T.J. Maxx share a similar customer base. A representative for TJX declined to comment when Insider asked about the growing competition from companies like Shein and Temu and whether TJX plans to expand its online presence. Customers said that they liked shopping at T.J. Maxx because the brand offers good value for money and a chance to hunt for good deals.

Persons: Maxx, —, John Klinger, Calvin Klein, Gucci —, Ernie Herrman, TJX's Herrman Organizations: Service, UBS, TJX's, Nike, TJX, Customers, Maxx Locations: Maxx, Sierra, COVID

☆ Influencers are under fire for praising working conditions in Shein’s clothing factory despite abuse allegations
▼ + stars: | 2023-06-27 | by ( Daysia Tolentino | ) www.cnbc.com time to read: +2 min

She said she asked workers questions based on her followers' concerns about the brand. While the trip seemed to reassure the influencers about Shein's working conditions, viewers criticized the creators for pushing "propaganda" and "selling out" for a free trip. You're being called out across the internet," one commenter wrote on one of Carbonari's Instagram posts. "Was the bag worth losing your ethics and helping propaganda," another wrote under one of Butler's Instagram posts. "This is the part that they wanted you to see so you can give the socials a good report," one person wrote under one of Sudduth's Instagram posts.

Persons: Sudduth, They're, Butler, Shein, Carbonari Organizations: Bloomberg, Getty, Shein Locations: Singapore, U.S

☆ Shopping platform Shein poised to take major U.S. market share. UBS thinks these companies will be hurt most
▼ + stars: | 2023-06-26 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Some big-name U.S. retailers could struggle as Chinese e-commerce company Shein gains ground in the country, UBS warned. "We believe SHEIN's momentum to continue, and the company could take major market share from US Softlines companies. Elsewhere, UBS data showed Shein was the second most-downloaded shopping app in the U.S. over the past month behind Temu.com. Nearly a quarter of those Shein shoppers said sales are not important to them, which is higher than average. Of typical clothing retailers, shoppers of Shein in the last three months were most likely to also shop at TJX Companies ' TJ Maxx during that period.

Persons: Jay Sole, Shein, Sole, Temu, TJ Maxx, Ross, There's, Nordstrom, — CNBC's Michael Bloom Organizations: UBS, Wall, Companies, Inc, Navy, Amazon, Walmart, Target Locations: U.S, Shein, American

☆ Shein's average shopper is older than you think — and she's spending far more on clothing than your average American
▼ + stars: | 2023-06-26 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +2 min

The average Shein shopper is a nearly 35-year-old woman, according to a UBS report. While the average Shein customer skews older than the influencers associated with the brand, they are still 13 years younger than the average American adult shopper. The average Shein customer is female, earns $65,300 in annual income, and reported spending $100 per month on women's clothing. Shein customers also shop more frequently than the average American, both online and in stores. Environmental, social, and ethical business practices ranked among the lowest priorities for all American shoppers surveyed.

Persons: Shein, — Organizations: UBS, Service, UBS Securities, that's, Wall Street Journal, Walmart, Target, Shein, Google, Analysts Locations: TikTok, Amazon, Maxx

☆ Fake Jordans are all over Temu even after the knockoffs were removed from Shein
▼ + stars: | 2023-06-16 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +3 min

Sneakerheads on social media accused fast fashion giant Shein of selling fake Air Jordans. But on Temu, a bargain Chinese shopping app, similar Air Jordan knock-offs are proliferating, as both sites struggle to audit their third-party sellers. However, similar sneakers are still available on the ecommerce site Temu, which has grown in popularity as an online dollar store. When Insider searched the site for "Air Jordans," it returned more than 1,000 results which included several similar styles. The fake Jordans highlight an ongoing problem for e-commerce companies with marketplaces open to third-party vendors.

Persons: Shein, —, Air Jordan, Jordan, Temu Organizations: Service, TMZ, Air, Nike, Temu

☆ Firms are bringing production back home because of the Ukraine war, China's slowdown — and TikTok
▼ + stars: | 2023-06-01 | by ( Lucy Handley | ) www.cnbc.com time to read: +8 min

Earnings calls discuss 'reshoring'A number of banks noted mentions of the domestic manufacturing trend in U.S. earnings calls for the most recent quarter. And we have never … got the target right," McRaith told an audience at a supply chain conference organized by software company o9 Solutions in April. Bill McRaith Former chief supply chain officer, PVHMcRaith, a former chief supply chain officer at Tommy Hilfiger-owner PVH , said the apparel industry both over-orders and under-orders stock by about 20% to 25%. If we build an economy based on electrification and batteries, it's going to be really important to control our own supply chain. "If we build an economy based on electrification and batteries, it's going to be really important to control our own supply chain," he told CNBC's "Street Signs Asia" in April.

Persons: Luke Sharrett, Savita Subramanian, Ryan Grabinski, they're, Bill McRaith, McRaith, PVH, Tommy Hilfiger, we've, Shein, Jade Gao, it's, Keith Phillips, Joe Biden, CNBC's, Elon Musk, Phillips Organizations: European Union, Bloomberg, Getty, Bank of America, UBS, Securities, o9 Solutions, CNBC, AFP, U.S ., Reshoring, EV, U.S, EVs Locations: China, Ukraine, U.S, Europe, Brazil, Guangzhou, U.S . U.S, Corpus Christi , Texas, Tennessee, United States

The company is hiring a U.S. head of logistics, who will be a liaison between Shein’s U.S. and Singapore headquarters, according to a LinkedIn job posting. The company is also hiring an anti-money laundering and compliance executive and a number of U.S. marketplace personnel, as reported by Modern Retail. Shein did not immediately respond to requests for comment on the head of logistics position. The head of logistics will manage Shein’s relationships with its third-party logistics companies, warehouses and trucking companies. Critics of the exemption also worry that de minimis shipments from China evade regulations banning forced labor in the consumer product supply chain.

Persons: Shein, Shein's, Arriana McLymore, Chizu Organizations: YORK, U.S, Shein’s U.S, Modern Retail, Securities and Exchange Commission, Chinese Communist Party, Thomson Locations: North America, China, Singapore, U.S, China . U.S, Brazil, minimis, New York City

Search resuls for: "SHEIN's"

25 mentions found