Shein, the Chinese brand that has become giant, will soon be bigger than H&M and Zara due to its large global profits.

While 2023 sales growth in the first three quarters alone reached $24 billion, surpassing its closest competitor by more than 25%; Currently, it is just a few steps away from surpassing the largest in the industry, China’s Shein store as a retailer reports $23 billion in profits by 2022, according to data from the Wall Street Journal.

Its consolidation is also thanks to its alliances. In August, it forged a strategic partnership with the American brand Forever 21, taking advantage of its physical stores, reaching figures of 150 million users. Also, last month, Shein acquired the intellectual property and trademarks of the British Missguided.
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Market research data from companies like Quartz from 2022 also highlights Shein’s dominance, with 50 percent of all fast fashion sales in the US, while H&M and Zara trailed with 16 percent and 13 percent, respectively. This success has also been reflected on social networks, being the brand in the United States with more application downloads than TikTok, Instagram and Twitter.