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    • Shein touted as model unicorn in China’s ‘new quality productive power’ push, IPO uncertain
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    Shein touted as model unicorn in China’s ‘new quality productive power’ push, IPO uncertain

    Harry Posted on

    State media came to the fore SheinThe China-based fast fashion giant stands out as an exemplary company that is reshaping the country’s apparel supply chain even as it faces uncertainties in the UK initial public offering (IPO) and slower growth abroad.
    Shanghai Securities News is under state management Xinhua News Agencyreleased the first of its “Unicorn Growth Series” on Friday, featuring Shein as the featured company. The series aims to highlight the role of unicorn companies or start-ups Valued at more than US$1 billion as a pioneer of “new quality productive forces”, a term introduced by the president Xi Jinping in September last year to identify the productivity gains achieved by technology innovation.
    Shein sells affordable clothing to a global customer base. wide supplier network inside Pearl River DeltaHe was praised for his contribution to the betterment of the industry in a report titled “The Growth Miracle of Fashion Company Shein”.

    Known for its agile production model, Shein starts with small orders, typically around 100 to 200 units per SKU (a number assigned to each product for inventory purposes), then adjusts production based on data such as clicks and sales.

    Shein, the juggernaut of fast fashion, is known for its agile production model. Photo: dpa
    Shein, the juggernaut of fast fashion, is known for its agile production model. Photo: dpa

    This on-demand production method increases efficiency and reduces waste, according to the Shein vice president cited in the report. As a result, the company’s overstock rates dropped to single digits compared to the industry average of 50 percent.

    The article also included Shein’s investment in clothing production technology; such as an in-house developed glove-making machine that can complete each part in three minutes, one-sixth of the previous production time. Suppliers frequently visit Shein’s Innovation Research Center and receive training in fabric inspection, sewing, quality control and production management.

    Harry
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