Meet mysterious man whose net worth is Rs 780000000000, owns Rs 2.5 lakh crore business empire, yet hardly anyone knows his name; Mukesh Ambani is his…, he is…
Chris Xu established Shein. He is also known as Sky Xu. He serves as the company's co-founder and CEO. Shein is a fast-growing and popular brand among Gen Z. Shein sells trendy clothing in over 150 countries globally. In 2018, Shein made its debut in India. Shein Returns to India with Reliance, Revolutionizing Fashion with Local Style
In 2020, the Indian government banned several Chinese apps and companies, including Shein. Earlier this year, in February, Shein re-entered India with Reliance Industries. They launched a new website called SheinIndia.in tailored to sell clothes made in India, rather than Shein's other global sites that sold mainly Chinese-made products.
'SHEIN is a global fashion and lifestyle online retailer committed to making the beauty of fashion accessible to all. We believe that the beauty of fashion should be accessible to everyone, not just the privileged few. We have set out to change the fashion landscape in India by leading the development of alternative processes and technologies that enable us to offer a wide variety of choices by reducing inventory pressure and curbing wastage,' reads the statement on the official website of the SheinIndia.in.
It further added, 'Our digital-first model meets customers where they are: on mobile devices, online and on social media. We have become one of the most popular shopping apps and continue to engage customers by providing multiple content streams directly within the SHEIN platform and delivering the best online shopping experience. We ensure the vastness of the choices we offer are driven by our core proposition of hand-picked trends, honest pricing, free shipping & assured quality.' Who is Shein's founder? Know his educational qualification
Chris Xu, also known as Sky Xu, is the founder of one of the largest fast-fashion brands on the planet, but little is known about him. The 41-year-old billionaire was born in 1984 in Shandong province, China, and is infamously elusive when it comes to the media. He currently holds Singaporean citizenship, which is also where Shein currently has its headquarters. Xu finished his studies at Qingdao University of Science and Technology in China with a Bachelor of Science degree. Upon graduating from college, he began his journey in marketing and learned a number of different marketing techniques, including search engine optimization (SEO), while he was working for Nanjing Aodao Information Technology. These skills would later help him grow his brand into a global fashion brand with Shein. Emergence of Shein
It was during this time that Chris Xu saw a major opportunity to sell Chinese goods to the global marketplace. In 2008, Chris Xu launched a company with two partners called Nanjing Dianwei Information Technology, which later became the foundation for Shein. A few years later, Xu launched a brand called SheInside, which sold wedding dresses as a pure-play online retailer. The business thrived, and consumer demand grew for low-cost fashion apparel. Xu rebranded in 2015 to Shein. In 2015, Xu moved the business operations to Guangzhou, then in 2022, the business physically relocated its headquarters to Singapore, and thus, Shein officially became Singapore-based. Chris Xu, CEO, one of the richest entrepreneurs in China
Chris Xu, CEO and reportedly the largest individual shareholder of Shein, has been instrumental in developing the brand into one of the world's leading fashion retailers. Shein has created an enormous global market for itself with its ultra-fast production cycles, variety of products, and very cheap prices. Xu is listed by Forbes as having a net worth of USD 9.1 billion (almost Rs 78,000 crore), as one of the richest entrepreneurs in China. Shein received funding that valued the company at USD 100 billion in the first half of 2022, but their valuation went down later that year, when the global market slowed.
Shein entered the offline retail market for the first time in 2023 through its partnership with Sparc Group, owner of Forever 21. This collaboration allowed Shein's products to be introduced to Forever 21's retail stores across America, moving the brand beyond just digital. Originally intended to go public via IPO in the U.S., Shein is now planning to pursue a listing on the London Stock Exchange instead.
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