WSJ: Clothing retailer Shein could become a marketplace
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One of the world’s largest online retailers Shein is ready to rethink the concept of its business, reports The Wall Street Journal. The Chinese company can become a marketplace where, along with Shein, other sellers of clothing, shoes and accessories can trade.
“The marketplace concept provides a wide range of additional assortment and delivery options, and we expect this will lead to increased customer engagement and satisfaction,” reads an investor memo seen by the WSJ.
In addition, according to the publication, Shein began to actively diversify its supply chain. While the company previously relied on suppliers from its native China, since mid-summer, the online retailer has launched production in Turkey and also rented warehouse space in Poland to serve customers from Western Europe, writes WSJ.
Shein, founded in 2008, this spring reached estimated value of $ 100 billion. The company represents the ultra fast fashion segment (ultrafast fashion), which involves constant updating of the range, small volumes of production and very low prices for it.
The company did not respond to a WSJ request for comment on information about the change in business model.
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