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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

☆ Chinese apps remain hugely popular in the U.S. despite efforts to ban TikTok
▼ + stars: | 2023-05-29 | by ( Lauren Feiner | ) www.cnbc.com time to read: +15 min

But while TikTok has been the one in the spotlight, other Chinese apps that present similar issues are also experiencing massive popularity in the U.S. Gorman said as the U.S. considers the threat posed by TikTok, it will also need to develop a framework for how to evaluate the relative risk of Chinese apps. But in the meantime, U.S. consumers continue to turn to Chinese apps. "And then of course, there's the early growth of Lemon8, which suggests that the appetite for Chinese apps in the U.S. is still growing." And some say the most effective long-term solution for curbing the use of Chinese apps may be fostering an environment for robust alternatives to grow.

☆ PDD, Shein, Binance: These hugely successful companies were born in China. They don't want you to know that
▼ + stars: | 2023-05-04 | by ( Michelle Toh | ) edition.cnn.com time to read: +10 min

Hong Kong CNN —Binance, the world’s largest cryptocurrency exchange, doesn’t want to be called a Chinese company. “Our opposition in the West bends over backward to paint us as a ‘Chinese company,’” he wrote in a blog post last September. Zhao has been vocal about how he feels his firm is misrepresented as a "Chinese company." The same concern could, in theory, apply to any Chinese company. TikTok CEO Shou Chew testifying before US Congress in March.

☆ Lawmakers urge SEC to crack down on Chinese retail giant Shein over alleged forced labor
▼ + stars: | 2023-05-01 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — Bipartisan lawmakers are urging the nation's top markets regulator to require Chinese fast-fashion giant Shein to disclose potential forced labor practices ahead of the company's possible initial public offering in the United States. "As a global company, Shein takes visibility across our entire supply chain seriously. We have zero tolerance for forced labor." "Other experts argue that it is appropriate to presuppose that any product made in the XUAR is made with forced labor." Independent coalition Shut Down Shein has also called on the SEC to deny IPO registration to Shein unless it provides proof of compliance with the Uyghur Forced Labor Prevention Act.

The U.S. lawmakers want the SEC to mandate Shein to independently audit and verify "that the company does not use Uyghur forced labor as a condition of being registered to issue securities in the United States," the letter said. Sources have said Shein is eyeing an IPO in the U.S. this year. Rights groups and governments have accused China of forced labor and internment of Uyghurs, a mainly Muslim ethnic minority, in Xinjiang. They say the exception allows websites selling cheap Chinese goods to evade millions of dollars in taxes and fees, as well as regulations banning forced labor in the consumer product supply chain. "As a global company, SHEIN takes visibility across our entire supply chain seriously.

☆ Teens drive $67 billion in spending. Here's where they're putting their money, and why it's bad news for some stocks
▼ + stars: | 2023-04-07 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +4 min

The wide-ranging survey saw teenagers reporting their spending this year will rise 2% from the spring of 2022 to $2,419. Gen Z girls are planning to pull back on clothing spending, which could spell trouble for apparel stocks in the months ahead. It's the top choice of places to shop for about 9% of the upper-income teens in the survey, Piper said. According to the survey, 49% of upper-income teens have purchased clothes on secondhand marketplaces like Poshmark, The RealReal and ThredUp , or at local thrift stores. Nike remains entrenched as the top apparel brand among all teens, a position it's held for more than 12 years.

☆ China's Shein set to raise $2 billion in new funding round, aims for U.S. IPO later this year, sources say
▼ + stars: | 2023-03-09 | by ( ) www.cnbc.com time to read: +2 min

Reuters reports the fast fashion retailer is targeting a U.S. IPO in the second half of 2023. Shein cut its valuation to $64 billion in this fundraising, down by a third from a funding round a year ago, according to six sources with knowledge of the matter. All sources declined to be identified as the information was confidential. Shein said it does not currently have plans for an IPO and declined to comment further. Shein, founded by Chinese entrepreneur Chris Xu, has grown into one of the world's largest online fashion marketplaces since its 2008 launch in Nanjing.

In U.S. federal court, SHEIN has accused Temu of contracting social-media influencers to make "false and deceptive statements" against SHEIN in their promotions of Temu.com. If Temu loses, Temu could be forced to curtail what so far has been a key marketing strategy. SHEIN seeks to block Temu from using SHEIN's name for marketing, and it wants damages from sales that SHEIN can show came through deceptive or infringing marketing. Social media influencers on TikTok often mention SHEIN in posts about Temu, comparing the companies and their merchandise. In the U.S., Temu is paying social media influencers $100 to $1,000 an hour for content plugging the Temu marketplace on TikTok, Instagram and YouTube.

A CHINESE COMPANY? Those rules followed a regulatory crackdown that has slowed U.S. listings by Chinese companies to a trickle. Chinese companies raised only around $230 million in U.S. listings last year, a massive drop from $12.9 billion in 2021, according to Refinitiv data. It was not immediately clear if SHEIN is planning to officially seek Chinese regulatory approval for its IPO. The moves were designed so that SHEIN could bypass seeking Chinese regulatory approval for the listing, sources have previously said.

☆ Grayscale CEO breaks down current SEC lawsuit
▼ + stars: | 2023-03-08 | 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 EmailGrayscale CEO breaks down current SEC lawsuitMichael Sonnenshein, Grayscale CEO, joins 'Squawk Box' to discuss the company's lawsuit against the SEC, the arguments both the SEC and Grayscale make for and against Bitcoin and Sonnenshein's thoughts on the FTX lawsuit against Grayscale.

☆ Hotels share revival shrugs off two crises
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 21 (Reuters Breakingviews) - Hotel groups are in restoration mode. Chief Executive Keith Barr reckons the year ahead will continue to see strong demand, boosted by China’s re-opening. In 2019, the People’s Republic accounted for around 10% of the hotel market, and its citizens spent over $250 billion on international tourism, according to the World Tourism Organisation. Yet Covid-19 may still hurt spending in the Middle kingdom, and geopolitical tensions may lead to fewer Chinese people travelling. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Shein's ambitions are a bit of a stretch
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

Shein’s top-line growth slowed from 57% in 2021 to 45% last year; the company expects that to continue, with its 2025 target implying average annual expansion of 37%. Meanwhile, Shein's projected 13% profit margin dwarfs that of web retailers like China's JD.com (9618.HK). The $118 billion PDD (PDD.O) recently rolled out its Temu shopping service; it is now the most downloaded app in the United States. Using the same 2.4 times forecast 2025 sales multiple the Inditex enterprise trades on, Shein's valuation could top $140 billion. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ How the end of China's travel lockdown could boost online retail powerhouses like Shein
▼ + stars: | 2023-01-09 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +3 min

As of January 8, Chinese citizens may travel out of the country freely for the first time in years. The change could boost Chinese e-commerce powerhouses like Shein and Alibaba. Though there are plenty of dedicated cargo flights in and out of China, more than half of air cargo worldwide travels in the belly of passenger planes. Chinese online retailers stand to benefit even more, said Brian Bourke, chief commercial officer of Seko Logistics, a freight forwarding company that manages transportation for Shein, among other US and Chinese e-commerce giants. Cheaper air cargo rates are likely to encourage even more investment in speed from Shein and others.

☆ China's travel rule relaxation means more space for cargo on passenger planes — and a big boost for Chinese retailers like Shein
▼ + stars: | 2022-12-07 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +3 min

The change could boost Chinese e-commerce powerhouses like Shein and Alibaba. Though there are plenty of dedicated cargo flights in and out of China, more than half of air cargo worldwide travels in the belly of passenger planes. Without regular passenger flights, the price to move cargo via plane in and out of China has been sky-high. Chinese online retailers stand to benefit even more, said Brian Bourke, chief commercial officer of Seko Logistics, a freight forwarding company that manages transportation for Shein, among other US and Chinese e-commerce giants. Cheaper air cargo rates are likely to encourage even more investment in speed from Shein and others.

☆ If TikTok wants to compete with Amazon, building US fulfillment centers is a great way to fail, according to e-commerce logistics experts. Here's what to do instead.
▼ + stars: | 2022-10-25 | by ( Emma Cosgrove | Dan Whateley | ) www.businessinsider.com time to read: +7 min

TikTok is diving into e-commerce as it builds out a US fulfillment and shipping logistics team. As TikTok takes its initial steps into the physical side of e-commerce, several logistics experts told Insider not to expect the company to follow Amazon's playbook. "If you want to be anything like what Amazon has built you are $100 billion behind," Matthew Hertz, cofounder of e-commerce logistics consultancy Second Marathon, said. Shein is one Chinese company that has managed this transition successfully, by focusing on the niche but fast-growing field of cross-border e-commerce logistics. Japanese e-commerce company Rakuten acquired two US fulfillment companies in 2019 only to combine them and sell them back to the founder of one this year.

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