What: Coresight reviews Shein’s metrics prior to its IPO.

Why it is important: Unless a major regulation changes, Shein is poised to remain a major threat to department stores involved in fashion.

Shein is the leading fast-fashion retailer globally with estimated revenues of $23 billion in 2022 and 18% share of the global fast-fashion market. Coresight expects Shein to gain more share through 2027. 13% of surveyed US apparel shoppers had purchased from Shein in the 3 months prior to September 2023, making it the 7th most shopped apparel retailer. 18% of 18-29 year olds surveyed shopped at Shein. Shein ships to over 150 countries and has over 6,000 supplier factories, mainly in China. It targets Gen Z consumers. Shein is expanding into new categories like home and beauty and has opened its first permanent offline store. New North American distribution centers will aid its rapid fulfillment model. As a fast-fashion disruptor, Shein poses an intense threat to incumbent value/discount apparel retailers in Western markets who have lagged in e-commerce. Sustained rapid growth for Shein could steal market share from legacy fast-fashion players like H&M and Inditex as well as offline-skewed discount retailers.

Report: Shein in Numbers as It Files for a US IPO