Current Business Situation of Shein

Current Business Situation of Shein
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Current Business Situation of Shein
Industry
Shein is in the retail clothing and fast fashion industry which involves everything concerned with apparel and accessories from brick-and-mortar to online shopping platforms. Fast fashion is an alternative to street-side fashions that provide high-end clothing and accessories at relatively low prices due to mass production and consumption. However, the quality of fast fashion apparel and accessories may not be top-grade; an expensive dress designed and produced by market leaders is not "cheap" either. Shein is an e-commerce clothing and accessories company established in 2008 (Shein). However, it recently gained fame across the world. The company provides clothes for women and all sizes, including Plus Size, which is rare in the market. It also has other categories for men, children, and home decorations.
Competition
Shein is one of many market players in online fashion businesses. Other players include Zara, Fashion Nova, and H&M. Zara, officially known as Zara SA, is based in Galicia, Spain, and was established in 1975 by Amancio Ortega. Zara is well known for its fast-fashion product portfolio and presence in various parts of the world. The company encompasses both brick-and-mortar and online shopping platforms. It has more than 2200 physical stores worldwide and online shopping platforms, enabling it to ship its products to any region (Forbes, n.d). The company produces apparel and accessories products by observing the latest trends in bulk. Moreover, its bulk production enables it to provide its products at relatively low prices. Its product portfolio includes all in-demand clothes doing rounds in the fashion and entertainment sectors. The company's sustainable model enables it to produce long-lasting products at competitive prices.
H&M is another household name when it comes to fashion. The company was established in 2003 and had more physical stores worldwide than Zara. Although the company has experienced several controversies throughout its lifecycle, it has a better experience in the retail and fashion industry. Consumers have a wide range of products to choose from (H&M Group, n.d). The items are in various categories: Women's Clothes, Men's Clothes, Home Decor, Kids, and Babies. Despite starting as a brick-and-mortar business, H&M has an online presence where its customers can purchase products online through their official website and deliver them to their local places worldwide.
Fashion Nova is an American e-commerce fast fashion clothing company. Despite being an online retail clothing company, Fashion Nova is also a brick-and-mortar organization with physical stores in five locations. Established in 2006 by Richard Saghian, Fashion Nova opened its first physical store in Panorama City, Los Angeles, in the same year. The company established its online presence in 2013 by creating its official website. Like its competitors in the market, Fashion Nova provides a wide range of products to its customers under various categories, including Women, Kids, Men, Beauty, and Plus+Curve, for oversized customers, which are rare in the market.