China Founded & Popular United States Fast Fashion SHEIN Launches $217 Million Circularity Fund in UK & European Union to Invest in Brands, Designers & Artisans Supporting Startups & Businesses, SHEIN as Cornerstone Investor of Circularity Fund Invites Businesses, Financial Institutions & Sovereign Wealth Funds to Co-invest in the Fund
11th July 2024 | Hong Kong
China founded & popular United States fast fashion SHEIN has launched a $217 million (EUR 200 million) Circularity Fund in UK & European Union to invest in brands, designers & artisans, supporting startups & businesses. SHEIN as a cornerstone investor of Circularity Fund, is inviting businesses, financial institutions & sovereign wealth funds to co-invest in the fund. In June 2024, SHEIN had filed for a UK IPO on London Stock Exchange with target $63 billion valuation (GBP 50 billion). SHEIN (10/7/24): “SHEIN, a global online fashion and lifestyle retailer, today announced a commitment to invest €250 million in the UK and EU over the next five years. Reflecting its goal of creating a future-ready fashion industry, SHEIN’s investment will include the creation of a Circularity Fund, along with operational and commercial investments aimed at further enhancing SHEIN’s circularity efforts and supporting the local entrepreneurial ecosystem in the UK and Europe. The flagship initiative of the investment programme will be the Circularity Fund, to which SHEIN will provide the launch capitalisation of €200 million … … SHEIN will be the cornerstone investor of the Circularity Fund and is inviting businesses, financial institutions, sovereign wealth funds globally to co-invest in the Fund.” More info below:
“ China Founded & Popular United States Fast Fashion SHEIN Launches $217 Million Circularity Fund in UK & European Union to Invest in Brands, Designers & Artisans Supporting Startups & Businesses, SHEIN as Cornerstone Investor of Circularity Fund Invites Businesses, Financial Institutions & Sovereign Wealth Funds to Co-invest in the Fund “
Donald Tang, SHEIN’s Executive Chairman: “As a global leader in our sector, SHEIN has both a responsibility and an opportunity to accelerate innovations that can address the environmental footprint of the fashion industry. The Circularity Fund will build on our support for entrepreneurs and businesses at the forefront of innovation in circular initiatives, with a focus on supporting entrepreneurship and innovation in the UK and the EU, where some of the most exciting work in this space is taking place. In addition to funding early-stage startups exploring new technologies, we also intend to invest in more mature start-ups in this space that have commercialised their innovations and are ready to scale up. Given SHEIN’s scale and reach, SHEIN can become a catalyst for the widespread adoption of these solutions across the industry … … All across Europe and the UK we have identified a rich and diverse pool of designers, brands, and craftspeople who we know can reach a much wider audience on our platform and who we are confident can successfully scale up their businesses with SHEIN”
Launch of Circularity Fund – The flagship initiative of the investment programme will be the Circularity Fund, to which SHEIN will provide the launch capitalisation of €200 million. Building on SHEIN’s existing programs to advance R&D and innovation in circularity for the fashion industry, the Fund will support start-ups and businesses throughout Europe and the UK that are developing next-generation technologies and solutions by:
- Investing in early-stage start-ups working on textile-to-textile recycled materials innovation and related areas.
- Entering into offtake agreements or other commercial partnerships with more mature start-ups with existing production capacity in textile-to-textile recycled materials or new and emerging preferred fibres.
SHEIN will be the cornerstone investor of the Circularity Fund and is inviting businesses, financial institutions, sovereign wealth funds globally to co-invest in the Fund.
Deepening SHEIN’s Support for the Next Generation of Sustainability Solutions – The launch of the Circularity Fund extends SHEIN’s existing partnerships with innovative companies working on circular solutions within the fashion industry, in line with the company’s evoluSHEIN Roadmap, a comprehensive strategy that guides SHEIN’s sustainability efforts. Those efforts include:
- Partnering with Queen of Raw to source surplus or “deadstock” fabric from other brands. These rescued materials, which were destined for landfills or incinerators, are now used to make new SHEIN garments. In 2023, SHEIN integrated Queen of Raw’s proprietary Materia MX software into SHEIN’s sourcing system, enhancing the flow of materials data between platforms.
- Increasing the adoption of cool transfer denim printing technology among SHEIN suppliers. This technology, which uses innovative high-fixation ink in place of conventional indigo dyes uses significantly less water than traditional denim washing methods.
- A multi-year research partnership with Academic institutions studying how to achieve commercially scalable production of recycled polyester fibres through chemical recycling: The research partnership was launched in 2023 and has since successfully produced experimental recycled polyester material.
Empowering Designers, Brands and Artisans Across the EU and UK – The remaining €50 million of the initial €250 Million commitment is earmarked for initiatives to support brands, designers, and artisans across the UK and the EU to grow online businesses with SHEIN’s marketplace services, as well as potential investments in R&D or pilot SHEIN production facilities in Europe or the UK. This will include:
- Funding to bring more UK and European artists and designers into the SHEIN X designer incubator program, SHEIN’s initiative to enable talented up-and-coming designers to commercialize their designs by partnering with SHEIN on manufacturing, marketing, and logistics.
- Creating a dedicated initiative to help UK and European businesses onboard onto SHEIN’s Marketplace platform, empowering them to tap into SHEIN’s global customer base.
China Founded & Popular United States Fast Fashion SHEIN Files for UK IPO on London Stock Exchange at $63 Billion Valuation, Filed for United States IPO in 2023 December with Reported $90 Billion Target Valuation, Founded in 2012 by Sky Xu Yangtian with Website SheInside.com Registered in 2011 & Name Changed to Shein in 2015, Relocated HQ to Singapore in 2022 with Roadget as Legal Entity Operating Website
25th June 2024 – China founded & popular United States fast fashion SHEIN has filed for a UK IPO on London Stock Exchange with target $63 billion valuation (GBP 50 billion). In 2023 December, SHEIN had filed for a United States IPO with reported $90 billion valuation. In 2024 April, SHEIN reported profit increasing to $2 billion in 2023 from $700 million in 2022. SHEIN is founded in 2012 by Sky Xu Yangtian with website SheInside.com registered in 2011 and name changed to SHEIN in 2015. In 2022, Shein relocated HQ to Singapore with Roadget listed as the legal entity operating the global website. Sky Xu Yangtian is a billionaire and has an estimated fortune of $12 billion. SHEIN is a global fashion and lifestyle e-retailer committed to making the beauty of fashion accessible to all. We use on-demand manufacturing technology to connect suppliers to our agile supply chain, reducing inventory waste and enabling us to deliver a variety of affordable products to customers around the world. From our global offices, we reach customers in more than 150 countries. Also in December 2023, China Pinduoduo low-cost online retailer Temu filed a new lawsuit against SHEIN for copyright infringement and taking illegal actions on merchants (detain merchants, access merchants accounts, force merchants to leave Temu etc) to slow Temu growth in United States. In October 2023, Temu & SHEIN had agreed to drop lawsuits against each other (copyright & anti-trust). More info below:
China Founded & Popular United States Fast Fashion SHEIN to File for UK IPO on London Stock Exchange at $63 Billion Valuation, Filed for United States IPO in 2023 December with Reported $90 Billion Target Valuation, Founded in 2012 by Sky Xu Yangtian with Website SheInside.com Registered in 2011 & Name Changed to Shein in 2015, Relocated HQ to Singapore in 2022 with Roadget as Legal Entity Operating Website
6th June 2024 – China founded & popular United States fast fashion SHEIN has been reported to be filing for a UK IPO on London Stock Exchange at $63 billion valuation (GBP 50 billion). In 2023 December, SHEIN had filed for a United States IPO with reported $90 billion valuation. In 2024 April, SHEIN reported profit increasing to $2 billion in 2023 from $700 million in 2022. SHEIN is founded in 2012 by Sky Xu Yangtian with website SheInside.com registered in 2011 and name changed to SHEIN in 2015. In 2022, Shein relocated HQ to Singapore with Roadget listed as the legal entity operating the global website. Sky Xu Yangtian is a billionaire and has an estimated fortune of $12 billion. SHEIN is a global fashion and lifestyle e-retailer committed to making the beauty of fashion accessible to all. We use on-demand manufacturing technology to connect suppliers to our agile supply chain, reducing inventory waste and enabling us to deliver a variety of affordable products to customers around the world. From our global offices, we reach customers in more than 150 countries. Also in December 2023, China Pinduoduo low-cost online retailer Temu filed a new lawsuit against SHEIN for copyright infringement and taking illegal actions on merchants (detain merchants, access merchants accounts, force merchants to leave Temu etc) to slow Temu growth in United States. In October 2023, Temu & SHEIN had agreed to drop lawsuits against each other (copyright & anti-trust). More info below:
China Founded & Popular United States Fast Fashion SHEIN Profit Increased to $2 Billion in 2023 from $700 Million in 2022, Plans IPO on London Stock Exchange, Filed for United States IPO in 2023 December with Reported $90 Billion Target Valuation, Founded in 2012 by Sky Xu Yangtian with Website SheInside.com Registered in 2011 & Name Changed to Shein in 2015, Relocated HQ to Singapore in 2022 with Roadget as Legal Entity Operating Website
5th April 2024 – China founded & popular United States fast fashion SHEIN profit has increased to $2 billion in 2023 from $700 million in 2022. SHEIN has been reported to be planning for a UK IPO on London Stock Exchange. In 2023 December, SHEIN had filed for a United States IPO with reported $90 billion valuation. SHEIN is founded in 2012 by Sky Xu Yangtian with website SheInside.com registered in 2011 and name changed to SHEIN in 2015. In 2022, Shein relocated HQ to Singapore with Roadget listed as the legal entity operating the global website. Sky Xu Yangtian is a billionaire and has an estimated fortune of $12 billion. SHEIN is a global fashion and lifestyle e-retailer committed to making the beauty of fashion accessible to all. We use on-demand manufacturing technology to connect suppliers to our agile supply chain, reducing inventory waste and enabling us to deliver a variety of affordable products to customers around the world. From our global offices, we reach customers in more than 150 countries. Also in December 2023, China Pinduoduo low-cost online retailer Temu filed a new lawsuit against SHEIN for copyright infringement and taking illegal actions on merchants (detain merchants, access merchants accounts, force merchants to leave Temu etc) to slow Temu growth in United States. In October 2023, Temu & SHEIN had agreed to drop lawsuits against each other (copyright & anti-trust). More info below:
China Founded & Popular United States Fast Fashion SHEIN Plans UK IPO on London Stock Exchange, Filed for United States IPO in 2023 December with Reported $90 Billion Target Valuation, Founded in 2012 by Sky Xu Yangtian with Website SheInside.com Registered in 2011 & Name Changed to Shein in 2015, Relocated HQ to Singapore in 2022 with Roadget as Legal Entity Operating Website
28th February 2024 – China founded & popular United States fast fashion SHEIN is planning for a UK IPO on London Stock Exchange. In 2023 December, SHEIN had filed for a United States IPO with reported $90 billion valuation. SHEIN is founded in 2012 by Sky Xu Yangtian with website SheInside.com registered in 2011 and name changed to SHEIN in 2015. In 2022, Shein relocated HQ to Singapore with Roadget listed as the legal entity operating the global website. Sky Xu Yangtian is a billionaire and has an estimated fortune of $12 billion. SHEIN is a global fashion and lifestyle e-retailer committed to making the beauty of fashion accessible to all. We use on-demand manufacturing technology to connect suppliers to our agile supply chain, reducing inventory waste and enabling us to deliver a variety of affordable products to customers around the world. From our global offices, we reach customers in more than 150 countries. Also in December 2023, China Pinduoduo low-cost online retailer Temu filed a new lawsuit against SHEIN for copyright infringement and taking illegal actions on merchants (detain merchants, access merchants accounts, force merchants to leave Temu etc) to slow Temu growth in United States. In October 2023, Temu & SHEIN had agreed to drop lawsuits against each other (copyright & anti-trust). More info below:
China Pinduoduo Low-Cost Online Retailer Temu Files New Lawsuit Against SHEIN for Copyright Infringement & Taking Illegal Actions on Merchants to Slow Temu Growth in United States, SHEIN is China Founded & Popular United States Fast Fashion SHEIN, Filed for United States IPO with Reported $90 Billion Valuation
14th December 2023 – China Pinduoduo low-cost online retailer Temu has filed a new lawsuit against SHEIN for copyright infringement and taking illegal actions on merchants (detain merchants, access merchants accounts, force merchants to leave Temu etc) to slow Temu growth in United States. In October 2023, Temu & SHEIN had agreed to drop lawsuits against each other (copyright & anti-trust). Earlier in December 2023, China founded & popular United States fast fashion Shein has filed a United States IPO with reported $90 billion valuation. SHEIN is founded in 2012 by Sky Xu Yangtian with website SheInside.com registered in 2011 and name changed to SHEIN in 2015. In 2022, Shein relocated HQ to Singapore with Roadget listed as the legal entity operating the global website. Sky Xu Yangtian is a billionaire and has an estimated fortune of $12 billion. SHEIN is a global fashion and lifestyle e-retailer committed to making the beauty of fashion accessible to all. We use on-demand manufacturing technology to connect suppliers to our agile supply chain, reducing inventory waste and enabling us to deliver a variety of affordable products to customers around the world. From our global offices, we reach customers in more than 150 countries. Temu is an online marketplace that connects consumers with millions of sellers, manufacturers and brands with the mission to empower them to live their best lives. Temu is committed to offering the most affordable quality products to enable consumers and sellers to fulfill their dreams in an inclusive environment. Temu was founded in Boston, Massachusetts in 2022. View lawsuit
China Founded & Popular United States Fast Fashion SHEIN Files for United States IPO with Reported $90 Billion Valuation, Founded in 2012 by Sky Xu Yangtian with Website SheInside.com Registered in 2011 & Name Changed to Shein in 2015, Relocated HQ to Singapore in 2022 with Roadget as Legal Entity Operating Website
1st December 2023 – China founded & popular United States fast fashion Shein has filed a United States IPO with reported $90 billion valuation. SHEIN is founded in 2012 by Sky Xu Yangtian with website SheInside.com registered in 2011 and name changed to SHEIN in 2015. In 2022, Shein relocated HQ to Singapore with Roadget listed as the legal entity operating the global website. Sky Xu Yangtian is a billionaire and has an estimated fortune of $12 billion. SHEIN is a global fashion and lifestyle e-retailer committed to making the beauty of fashion accessible to all. We use on-demand manufacturing technology to connect suppliers to our agile supply chain, reducing inventory waste and enabling us to deliver a variety of affordable products to customers around the world. From our global offices, we reach customers in more than 150 countries.
China Founded & Popular United States Fast Fashion SHEIN Plans for United States IPO with $90 Billion Valuation, Founded in 2012 by Sky Xu Yangtian with Website SheInside.com Registered in 2011 & Name Changed to Shein in 2015, Relocated HQ to Singapore in 2022 with Roadget as Legal Entity Operating Website
11th November 2023 – China founded & popular United States fast fashion Shein is planning for a United States IPO with $90 billion valuation. SHEIN is founded in 2012 by Sky Xu Yangtian with website SheInside.com registered in 2011 and name changed to SHEIN in 2015. In 2022, Shein relocated HQ to Singapore with Roadget listed as the legal entity operating the global website. Sky Xu Yangtian is a billionaire and has an estimated fortune of $12 billion. SHEIN is a global fashion and lifestyle e-retailer committed to making the beauty of fashion accessible to all. We use on-demand manufacturing technology to connect suppliers to our agile supply chain, reducing inventory waste and enabling us to deliver a variety of affordable products to customers around the world. From our global offices, we reach customers in more than 150 countries.
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