Shein, a Chinese-based fast-fashion retailer, is aggressively expanding its business in Singapore after making a Singapore firm its de facto holding company.
As reported by Reuters, Shein aims to quadruple the number of its Singapore employees to around 200 by the year’s end. It is currently advertising for government relations associates as well as for staff for human resources, marketing, and IT roles. The company said it is expanding its Singapore offices to support the firm’s growth in the Southeast Asian market.
Despite fierce competition, Shein has become one of the world’s largest fast fashion marketplaces by targeting the social media-savvy “Gen-Z” generation, making heavy use of influencers and discount codes.
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Items such as $10 dresses and $5 tops help draw hundreds of millions of visitors to its website each month. The company made around 100 billion yuan ($15.7 billion) in revenue last year, sources have said. It has about 7,000 employees worldwide, according to its website.
Singapore, an Asian financial hub with a large ethnic Chinese population, is viewed by some businesses as a neutral base amid trade tensions between China and the United States. Chinese tech giants such as TikTok owner ByteDance and Tencent Holdings, have in recent years set up regional hubs in Singapore.
Shein’s founder and chief executive, Chris Xu is also reported to have become a permanent resident in the country. However, it is still unclear when Xu gained his Singapore permanent resident status and if it was granted under the country’s global investor programme. A person must be a permanent resident for at least two years before applying for Singapore citizenship.
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