‘As Shein leads global fashion, there’s opportunity to differentiate on what it cannot do’

Lisa Byfield-Green

Shein became the world’s biggest fashion retailer in 2023. Retail Week data and insights director Lisa Byfield-Green considers the implications of Shein’s rise and identifies winning strategies its competitors can adopt in response

Shein became the world’s largest fashion retailer in 2023, as revenue soared and profits doubled. Its speed-focused business model, breadth of ambition and designs on IPO look set to continue disrupting the industry. 

As cost-of-living pressures continue to impact discretionary spend, what lessons can others learn from Shein’s rapid success? Is it all about price or is there more at play?


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