Shein to invest $85m to ’empower’ global fashion community

Photo credit: Melissa Goh / Tech in Asia

Shein has pledged to invest US$85 million in the next five years to “empower” communities across the globe, according to a statement.

This is in addition to the US$70 million that the ultra-fast fashion giant committed in April for similar efforts.

Specifically, the company will allocate US$70 million to support its manufacturing suppliers, US$50 million for designers, and US$35 million to women, young people, and underprivileged individuals.

For example, Shein’s incubator program, launched in January 2021, has attracted 3,000 designers and artists from over 20 countries to build their own brands. The new funding will also be used to support suppliers in Brazil, China, and Turkey in training and upskilling workers, as well as strengthening technology for production models.

Founded in China in 2008, Shein previously said it has 150 million users globally as of August 2023. The company has been in the headlines over various controversies, including the alleged use of forced labor.

In August, its rival Temu filed a lawsuit accusing Shein of engaging in exclusivity agreements, preventing manufacturers from collaborating with Temu.

See also: Shein’s rapid rise in Southeast Asia could topple ecommerce giants