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Amid the COVID-19 pandemic in 2020, it reportedly made $10 billion in revenue, making it the seventh consecutive year of more than 100% sales growth for the company. [11] As of October 2020 [update] , Shein was the world's largest online-only fashion firm. [ 11 ]
Shein acquired one-third of Forever 21’s parent company in 2023, ... the company’s cofounders had a combined net worth of $5.9 billion with 750 stores across the U.S.
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Shein's rapid global expansion since the COVID-19 pandemic has upended the fashion industry. (Per-Anders Pettersson - Getty Images) They don’t make things like they used to.
The pandemic propelled an already existing surge for secondhand luxury fashion, with websites such as The RealReal, ThredUp, or Poshmark, seeing a surge of activity during the pandemic. [34] In March 2021, the luxury group Kering acquired 5% of the secondhand resale platform Vestiaire Collective . [ 35 ]
Inditex is a large brand with a new worth of $17.2 billion. [24] With their abundance of wealth, it is expected that this company produces greener. Inditex has targets to source fabrics more sustainably by 2025 and to have nothing sent to the landfills by 2023. [ 23 ]
Huang rose seven places on Hurun's annual list of China's wealthiest people, ... Chinese e-commerce company, the fast fashion-oriented Shein. ... $35 billion since his peak net worth of $58.8 ...
For the Netherlands, based on overall excess mortality, an estimated 20,000 people died from COVID-19 in 2020, [10] while only the death of 11,525 identified COVID-19 cases was registered. [9] The official count of COVID-19 deaths as of December 2021 is slightly more than 5.4 million, according to World Health Organization's report in May 2022.