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After US, Shein launches a clothing resale platform in Europe

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Jun 3, 2024

Chinese online shopping and fast fashion giant Shein is to launch a second-hand clothing resale platform in France, followed by the UK and Germany, the group’s executive chairman, Donald Tang, told Les Echos in an interview published on Sunday.

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This platform, called “Shein Exchange”, will enable users to resell only clothing purchased on Shein, unlike second-hand resale alternatives such as Vinted. “The transaction is very simple, because your purchase history is recorded, so it only takes one click to resell a product,” Donald Tang explained to Les Echos, believing that this “promotes a circular economy.”

Such a platform already exists in the United States, where it has more than 4 million users, according to the business daily.

Founded in 2012 in China and now based in Singapore, Shein has rapidly conquered the global fast fashion market, based on the rapid renewal of collections at very low prices, and sells only online, targeting a young clientele that uses social networks.

In France, the National Assembly adopted a bill in March to make these products less attractive and thus limit the environmental impact of production, which it considers to be excessive and in part using toxic chemicals. The Senate has yet to vote on the bill.

Shein is also often attacked for its environmental impact, particularly the carbon footprint of its products, which are produced in China and then shipped to Europe. But Donald Tang also said that Shein wanted its production to be “increasingly” local.

“We already use manufacturers in Turkey and we are going to increase the proportion of this production to serve the European market and reduce the use of air freight,” said the group’s executive chairman.

Asked about a future stock market flotation, which has been mooted on several occasions, the CEO confirmed that he was considering it, but said that the choice had “not yet been made” between the London and New York stock markets.

In November, the Wall Street Journal reported that Shein had submitted a confidential application for an IPO in the United States.
 

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