“Shein’s explosive growth has spawned a series of imitators, which could undermine its growth trajectory. In September Chinese ecommerce group Pinduoduo launched Temu, a marketplace selling cheap clothes to Gen Z women in the US. Pinduoduo splashed out on US influencers to promote the brand and ran TV adverts during February’s Super Bowl.
Online fashion group Shein projects its revenue will more than double to nearly $60bn by 2025, as the Chinese company seeks to convince investors that it is on course for a blockbuster initial public offering this year. In a “management presentation” recently shown to investors and seen by the Financial Times, Shein said it was targeting annual revenue of $58.5bn in 2025, up from $22.7bn last year. That would exceed the existing combined annual sales of retail giants H&M and Zara.
—-Now that is what we call a true global growth story and management ambition. Leading the world of curves
CCX Price at posting:
54.5¢ Sentiment: Buy Disclosure: Held
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