Shein's first-half revenue hit a record high and it is actively recruiting Amazon sellers

Ever since Temu chose the North American market as its main operating base and used a more perverted low-price strategy to expand the market, the war between Shein and Temu has never disappeared.

While Temu is expanding wildly, Shein announced its best performance in the first half of this year.

Shein's net profit in the first half of this year has reached a record high! ! In the first half of last year, it was only close to breaking even. Compared with last year, Shein's sales in the first half of this year have accelerated, and its profits are also rising sharply.

In particular, Shine’s GMV in Brazil has tripled since the beginning of this year, reaching nearly $100 million, and the number of active sellers has reached 6,000.

Shein has established itself as a leader in the competitive fast-fashion space by winning over Gen Z and millennial consumers with its wide selection of low-priced dresses, tops and jeans, and is continuing to expand its product categories in the market.

But Shein has been avoiding rumors of an IPO.

However, Shein quickly denied the rumor. As one of the world's largest unicorns, Shein's every move is closely watched, and news of its listing is reported every once in a while.

It may not be listed in the near future. Shein has not decided on which exchange to list, but both the New York Stock Exchange and Nasdaq have tried to communicate with Shein to choose their own platform. This is not easy to conclude.

Shein and Temu’s tracks are not the same and cannot be compared!

Shein was previously known for its low prices, and it squeezed out some fast fashion brand competitors such as Zara, UR, and H&M with its low-priced products. It can be said that it has made a name for itself and established a firm foothold. However, after meeting TEMU on a narrow road, it is at a disadvantage.

There is still an essential difference between Shein and Temu. At least the quality control of products is much stricter than that of Temu. A seller once said: I supply swimsuits to Shein and Temu. Shein uses high-quality fabrics and craftsmanship, while Temu always lowers the price. We use the cheapest polyester and streamlined craftsmanship. Now Shein has started to recruit high-quality sellers, and it is estimated that it will gradually transform in the future. The price will also increase.

Anker, a well-known seller on Amazon, also became one of the first brands to join Shein. Although the platform provided subsidies after joining, Anker's pricing was no different from that on Amazon, and there were no promotional activities, but its sales were still very good.

Recently, many sellers have received the message “In view of your success on Amazon, I am contacting you today to invite you to introduce [Brand Name] to Shein Marketplace.”

No wonder so many sellers are consulting Shein. Now most of the sellers on the Shein Marketplace platform are still Chinese sellers.

Shein has also raised the entry threshold. Although Shein is now actively recruiting Chinese sellers, if the entry threshold is lowered, Shein may become the second Temu. Raising the threshold and inviting high-quality sellers to settle in is undoubtedly a win-win effect.

Currently, Shein mainly provides sellers with two modes: third-party sellers and fully managed operations . Whether it is a medium or large seller with its own brand and independent operation capabilities, or a small or medium-sized seller who just wants to provide supply and worry-free operation, they can choose a mode based on their own situation.

Shein announced the "Gravity of Xiyou" million sellers plan, which aims to help 10,000 sellers around the world achieve annual sales of over one million US dollars in the next three years. In order to further help the development of small and medium-sized sellers, the "Gravity of Xiyou" million sellers plan will also help 100,000 small and medium-sized sellers achieve annual sales of 100,000 US dollars.