In China, the textile and garment industry, as a pillar industry of the national economy, has a large scale and far-reaching influence in the world. However, driven by emerging information technologies such as 5G, artificial intelligence and industrial Internet, the traditional garment industry is facing deep changes and urgently needs to transform to an efficient and flexible new format. At this time, Chinese cross-border fashion retailer SHEIN has set a new benchmark for the modernization of the industry with its forward-looking innovation practices and global layout.
On January 15, 2024, third-party market analysis agency DataAccording to AI's latest "2024 Mobile Market Report", SHEIN topped the global shopping APP** list. This is also the second consecutive year that it has reached the top after 2022, which is a strong confirmation of its strong brand appeal and user loyalty. Not long ago, Morning Consult, a well-known consulting company in the United States, released the list of "Top 10 Fastest Growing Brands in the United States", and SHEIN ranked fourth, becoming the only Chinese brand on the list, and the only fashion brand in the world, along with many internationally renowned brands such as ChatGPT and Coca-Cola. This also indicates that SHEIN's influence around the world is rising.
In terms of overseas cooperation, SHEIN is also frequently reported. In October last year, SHEIN reached a long-term cooperation agreement with ABG Group for the Forever21 brand, and SHEIN also acquired the parent company of Forever21, which owns a third of the shares of SPARC Group, which owns dozens of fashion brands.
Subsequently, the British fashion retail group Frasers announced that its well-known brand Missguided** was given to global fashion and lifestyle** retailer Shein. Shein will fully acquire the Missguided brand and all its intellectual property rights. This acquisition not only further expands SHEIN's fashion territory and brings more diversified fashion brands and products to its global consumers, but also means that SHEIN's flexible on-demand fashion continues to lead the development of the global fashion industry, and its industrial ecological partners usher in more opportunities.
This series of strategic deployments not only enriches SHEIN's brand matrix, but also helps partners tap the untouched market share potential and achieve a mutually beneficial and win-win situation with the help of its professional strength and rich marketing experience in the field of e-commerce.
Today, SHEIN, which started as its own brand in the clothing field, has gradually climbed to one of the world's top four fashion brands on a par with Zara, H&M and Uniqlo. In the process of continuing to cultivate the fashion industry, SHEIN has not only set a model in China's garment industry, but also become a beautiful business card for China's fashion industry to sail overseas, showing the strong competitiveness and influence of Chinese brands in the global market.