Shein opens up to third-party brands and launches its ‘marketplace’ in Spain

2023-06-23 14:09:35

Shein follows in the footsteps of Asos and Zalando and opens its platform to third-party brands. The Chinese company, specialized in the online distribution of ultra-cheap fashion, has begun to distribute brands such as Skechers or Lansinoh in the United States and Brazil, and plans to launch the same model in Spain soon.

After the first experiences in the two markets, the company will now launch its marketplace in Mexico and, later, in Germany, Spain, France and Italy, as the group has advanced in a statement.

The company thus continues the path followed by other pure players like Asos or Zalandowhich in recent years have leveraged their growth strategy in their services for third parties (which also include logistics or marketing services, among others).

The formula of marketplacewith which the platform does not control the stock, provides more profitability and, in the case of Shein, also allows it to gain credibility in markets such as Europe, where it has received notable criticism for its model.

Shein will launch the ‘marketplace’ in Mexico, Germany, Spain, France and Italy

Shein will accompany the deployment of the model marketplace with a program for SMEswith which it will grant “incentives and mentoring” to 100,000 outstanding sellers with high potential in the marketplace “so that it reaches annual sales of up to 100,000 dollars in three years.” In addition, 10,000 sellers will be selected for another program with which he promises to reach one million dollars in sales in three years.

Based in Singapore, Shein has become one of the fastest growing operators in the sector. The company has distinguished itself by an ultra-fast production model, thanks to its integration with local suppliers in China.

The group had a turnover of around 22.7 billion dollars in 2022, more than H&M the same year, as it has assured during a presentation with potential investors to which it had access. Financial Times. The company, which plans to list on the New York Stock Exchange in the near future, increased its sales by 41% compared to 2021, below its forecasts of registering an annual growth of 50%.