Shein Networth Revenue & Usage Statistics 2024

Shein is one of the largest online fashion companies in the world. Initially, Shein started to sell wedding dresses. But after gaining huge recognition in the early 2010s, the fashion company branched out to womenswear.  

Shein has made a name in the industry by offering all types of fashion items, but it mainly focuses on women. The clothing brand is even regarded as the market leader in fast fashion. 

It produces thousands of new items to keep up with the trend and offer its customers the latest products. The brand adds around 2000 new items to its store every day. 

The Shein app is full of promotions to attract customers to spend more money. First-time app users receive at least three promotions to save and shop more. As of the end of 2022, the Shein app noted a total of 196 million downloads

Keep reading to learn about Shein usage and statistics. 

Shein Revenue

Shein Key Statistics 

With a large online footprint, the corporate side of Shein is not a secret. Compared to other fashion brands, Shein has a better hold of social media platforms. It intuitively uses Facebook, TikTok, Pinterest, and Instagram to promote its products. 

Shein has partnered with several clothing manufacturers in China to produce the latest trend every week. It uses an in-house processing and ordering system to ensure smooth delivery. 

Unlike other fashion brands, Shein mainly focuses on the international market. It does not sell in China. By regularly paying the manufacturers and following a disciplined culture, Shein has gained a good reputation in the market. 

After Shein entered the US and European markets, its valuation drastically increased from $5 billion in 2019 to $100 billion in 2022. But in 2023, Shein’s valuation decreased to $64 billion. 

Here are some key statistics of Shein: 

  • In 2022, Shein was estimated to have generated $30 billion. It’s a 91% increase made in 2021. 
  • Shein has more than 74.7 million active shoppers, with 13.7 million solely from the US. 
  • In 2022, Shein became the most downloaded app, with more than 200 million downloads. 
  • Shein was recently valued at $68 billion ahead of the late 2023 IPO. 

Shein Overview 

  1. Launch Date: March 2008
  2. Headquarters: Nanjing, China 
  3. People: Quist Huang and Chris Xu
  4. Business Type: Private 
  5. Industry: Shopping

Shein Revenue

Estimates reveal that the fast fashion giant Shein has generated better revenue since 2016. Its revenue has increased by 398% from 2019 to 2020. 

Shein Revenue

Shein Annual Revenue 2016 to 2022 ($bn)

Year Revenue ($bn)
20160.61
20171.55
20181.99
20193.15
20209.81
202115.7
202230

Shein Users

During the early years, most of Shein’s growth came from Saudi Arabia and India. But lately, the US, Mexico, and Brazil have become the largest markets. 

May 2023 Update: Shein is coming back to India. Shein has partnered with Reliance to comeback to India.

Shein Users

Shein Annual Users 2017 to 2022 (mm)

Year Users (mm)
20172.8
20184.8
20195.6
202015.5
202143.7
202274.7

Shein US Users

Over the years, Shein has grabbed a major market portion in the US, but it is still behind Brazil. 

Shein US Users

Shein Annual Users in the US 2017 to 2022 (mm)

Year Users (mm)
20170.49
20180.67
20191.12
20202.8
20217.5
202213.7

Shein Downloads

The popular fashion shopping app of Chinese e-commerce retailers was downloaded nearly 196 million times in 2022. The unique business model of Shien helps it predict fashion trends and keep up with the demand. 

Shein Downloads

By reducing the production time to one week, Shein is capable of offering better products at a lower price. 

Shein Annual Downloads 2018 to 2022 (mm)

Year Downloads (mm)
201848.4
201957.2
2020103.1
2021157.1
2022200

Shein Valuation

Shein’s valuation has increased by 840% in the past few years. The fashion company has become a dominant player in the fast fashion industry. 

Shein Valuation

Shein Valuation 2019 to 2023 ($bn)

Year Valuation ($bn)
20195
202015
202147
2022100
202364

Shein FAQ

Ques 1: How many items does Shein add every day? 

Ans: Shein is reported to add an average of 2000 stocks per unit every day. 

Ques 2: What is the revenue growth of Shein?

Ans: The fast-fashion company Shein has set a revenue growth of $58.5 billion in 2025. 

Ques 3: Who is Shein’s main target audience? 

Ans: Shein’s main target customer includes women, Gen Z, men, and people with low/middle income. Most of the products on Shein focus on Gen Z.  

Ques 4: Is Shein bigger than Amazon?

Ans: In May 2021, Shein overtook Amazon and became the top shopping app on Android and iOS.

Sunil Gill
Sunil Gill

A digital entrepreneur with over 9 years of experience in digital marketing. Over the years, I have developed a strong passion for app marketing and love to create engaging and informative content around it.