Shein Makes History with First Physical Stores in France
Fast-fashion retailer Shein is set to make history with its first permanent physical stores, opening in France starting November 2023. The company, known for its ultra-cheap clothing and vast product range, has chosen France for its significance in fashion and retail history, partnering with Societe des Grands Magasins (SGM) for the venture.
Shein's expansion into physical retail comes after years of operating solely online. The company, founded in China and now based in Singapore, has built an empire with aggressive marketing and a business model that offers trendy clothing at rock-bottom prices. In 2022, Shein employed 16,000 people worldwide and posted a staggering $23 billion in revenue.
The first Shein store will open at BHV Marais in Paris, with five more planned in Galeries Lafayette stores across France. This move aims to revitalize city centers and restore department stores, creating 200 direct and indirect jobs in France. The company's executive chairman, Donald Tang, cited France's significance in fashion and retail history as a key reason for the expansion.
While Shein's environmental impact, labor conditions, and competition with European brands have been subjects of criticism, the company's physical retail debut in France signals a new chapter in its growth story. With the first store set to open at BHV Marais in Paris, Shein's foray into physical retail promises to bring affordable fashion to French consumers and stimulate local economies.
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