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The sea presses down on the bamboo branches, which then rise again; the wind blows over the mountain corners, which then become dark and bright. This sentence is the most appropriate to describe the mood of cross-border sellers.
Cross-border market dynamics such as Amazon policy changes, rising logistics costs, and hot sales performance can all concern sellers. Just recently, it was learned that SHEIN, a Chinese cross-border B2C fast fashion e-commerce platform that has always attracted much attention, seems to have done something big again. Shocking news! Has SHEIN's headquarters moved to Singapore? Yesterday, according to Reuters, SHEIN has used a Singapore company as its actual holding company and is actively expanding its Singapore office, and is suspected of moving SHEIN's headquarters to Singapore. Its founder and CEO Xu Yangtian has also obtained permanent residency in Singapore. Cross-border navigation , SHEIN headquarters is suspected to have changed, and the founder has obtained permanent residency in Singapore! #Amazon##Cross-border headlines#Cross-border e-commerce video account ▲ Video account focuses on cross-border navigation
It is learned that Roadget Business Pte. LTD , the actual holding company of SHEIN today, was registered in Singapore in 2019. It has been the legal entity operating SHEIN since the end of 2021. It lists Xu Yangtian and four others as its company representatives. It currently owns Guangzhou SHEIN International Import and Export Co., Ltd. and the Shein trademark transferred from Hong Kong Zoetop Business Co. It is worth noting that on LinkedIn, SHEIN’s company profile already shows that its headquarters is in Singapore. According to people familiar with the matter, SHEIN aims to quadruple its Singapore employee headcount to around 200 by the end of this year. In response, SHEIN also stated that the company is indeed expanding its Singapore office to support the company's growth in the Southeast Asian market. But beyond that, SHEIN did not directly answer questions about whether the company has moved its legal and administrative headquarters to Singapore, only mentioning that the company has operating centers in major markets including China, Singapore and the United States. ▲ The picture comes from SHEIN official website SHEIN officials did not respond to inquiries about the company's founder and CEO Xu Yangtian obtaining permanent residency in Singapore, only stating that Xu Yangtian is "a Chinese citizen who has long been rooted in China." In fact, as early as last month, Reuters broke the news that SHEIN founder Xu Yangtian was looking to obtain Singaporean citizenship, in part to circumvent China's new regulations on companies listing overseas. If the application is successful, the change in citizenship is likely to simplify the process of SHEIN's offshore IPO. But so far, there is no clear conclusion on whether SHEIN has moved its headquarters to Singapore and whether its founder will apply for Singaporean citizenship. What is certain is that SHEIN's ambition will never stop here. Ambitious! SHEIN keeps expanding its territory It is learned that SHEIN, which is famous for its new supply chain model and has made considerable profits, is still working hard to build its supply chain. In early February this year, the Guangzhou Development and Reform Commission issued a notice on the "Guangzhou 2022 Key Preparatory Project Plan", which showed that SHEIN planned to invest 15 billion yuan to build the Xiyin Bay Supply Chain Headquarters in Zengcheng District, Guangzhou. The project is located in Zhongxin Town, Zengcheng District, Guangzhou, with a total land supply of about 3,000 mu and a total construction area of about 3.3 million square meters. Preliminary work has been carried out. ▲ The picture comes from "Guangzhou 2022 Key Preparatory Project Plan" Considering that SHEIN recently spent tens of billions of dollars to build its supply chain headquarters in China, the possibility of moving its headquarters to Singapore seems to have decreased. But in addition to this, we also learned that an insider recently revealed that the Chinese fast fashion brand SHEIN is considering restarting its IPO plan in the United States, and it may be listed as early as this year. As early as 2020, there were endless rumors that SHEIN was preparing to go public in the United States, but it is very likely that the plan was shelved due to the overly tense relations between China and the United States at the time. The speculation that the founder of SHEIN will apply for Singaporean citizenship is also partly because through Singaporean citizenship, SHEIN can bypass the Chinese laws "Internet Information Service Algorithm Recommendation Management Regulations" and "State Council's Special Provisions on Overseas Share Issuance and Listing of Joint-Stock Companies" which have stricter supervision over overseas listed companies, so as to help it successfully list in the United States. Although SHEIN has not disclosed financial data, Coresight Research data shows that SHEIN's estimated sales in 2020 increased 250% from the previous year to $10 billion, with more than 2,000 items added to its website each week. Moreover, taking advantage of the global online consumption pandemic, SHEIN achieved revenue of approximately 100 billion yuan (US$15.7 billion) in 2021. So far, SHEIN's prospects look bright. Invincible? Shein actually has its own troubles It is learned that Dmonstudio, a women's fashion shopping website launched by Tik Tok under ByteDance and competing with SHEIN, has been shut down recently and returned with nothing. At present, SHEIN, with its huge traffic team and support from a new supply chain model, seems to be invincible and has a bright future. In fact, SHEIN has its own challenges to face. As we all know, thanks to its powerful data analysis system, early seizure of traffic high ground, and establishment of a strong supply chain, SHEIN's advantages have always been faster, cheaper, and more popular, but this advantage has also brought certain troubles to SHEIN. Firstly, in pursuit of speed, SHEIN's products are lacking in craftsmanship and quality; secondly, due to the low price of its products, SHEIN's brand image of being cheap is deeply rooted in people's minds. Therefore, if SHEIN wants to enter the high-end market, it will be quite difficult. In addition, as the benefits of social media gradually fade, the advantages of grabbing traffic dividends in advance are slowly disappearing. If SHEIN wants to further enhance its brand influence, it will also be a major challenge for it in the future. If you have any news or information related to SHEIN, please feel free to discuss in the comment section~ |
