Shein, renowned for its affordable in-house clothing and accessories, is extending its reach to major brands like Colgate-Palmolive and Hasbro, aiming to boost consumer confidence.
The company already retails products from other brands, including Caudalie, CeraVe, La Roche-Posay, and Shiseido, in nine European countries (UK, France, Germany, Italy, Netherlands, Poland, Portugal, Spain, Sweden) and in the USA, Brazil, and Mexico.
Shein’s primary audience comprises Gen Z and Millennial women, with the best-performing categories being homewares, electronics, and beauty-health products.
According to the company, the gross merchandise value (total value of products sold) in the home goods category tripled in 2023, while electronics saw a 2.5-fold increase and health-beauty products increased by 2.1 times.
In the six months leading up to January 31, 2023, Shein had an average of 108 million monthly active users across EU member states. However, the company’s growth has faced challenges, including new EU regulations mandating the monitoring of its platform for illegal or harmful products.
The company’s initiative to incorporate foreign brands is a strategic move to enhance its competitive edge against Amazon and foster growth in anticipation of its upcoming stock market debut later this year.
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