2024-01-10 03:13:11
A small village in Guangzhou has created the fast fashion giant SHEIN with a valuation of 2 trillion! It is said that employees do not recognize him and never sleep… The 40-year-old mysterious founder reveals the secret (taken from Weibo)
Written by: Editor of Today’s Weekly
“Its ‘hot style’ can keep popping up and keep popping up for several years. Compared with our past cooperation with other brands, which lasted only a year or even a few months, it is unprecedented.” A hope The person in charge of the audio supply chain manufacturer said this.
Xiyin, whose English name is SHEIN, is a fast fashion retail company that originated in China and now has a presence in more than 150 countries. It is also the unicorn company with the third highest valuation in the world.
At the end of November 2023, including the Wall Street Journal and many Chinese benchmark financial media, Xiyin had submitted an IPO (initial public offering) application through a “secret submission” and planned to be listed in the United States in the near future.
This unicorn, whose valuation is second only to ByteDance and SpaceX, surpassed the old fast fashion giant ZARA in revenue in 2022, officially becoming the world’s largest fast fashion company. In the same year, Xiyin’s valuation reached US$100 billion, exceeding the combined value of H&M and ZARA.
After all, what is the charm of Xiyin? Many analysts believe that there are two main reasons.
First, Xiyin’s “unprecedented ultra-low prices” dwarf other fast fashion brands that traditionally focus on price advantages, such as ZARA and H&M. Second, Xiyin’s ultra-diversified style selection, which can almost be described as “explosive”, is another key to many European and American consumers’ admiration for it.
According to statistics from China International Capital Corporation, Xiyin launches more than 2,000 new styles of clothing “every day” and launches more than 1 million new styles every year. In comparison, ZARA only launches two new clothes every week, and only launches two new styles a year. Launched 12,000 new clothing styles.
There is a rumor about Xu Yangtian, the founder of SHEIN, like this: When SHEIN was getting off work on an ordinary day, Xu Yangtian was in an elevator in an office building in Guangzhou, China. The elevator opened the door, and many SHEIN The employees filed in. In this situation, you might imagine them greeting Xu Yangtian one after another, or exchanging a few words.
However, the truth is that when Xu Yangtian stepped out of the elevator, no Xiyin employee recognized him. Low-key and mysterious are the first impressions that outsiders have when talking about Xiyin.
Xu Yangtian, 40 years old, grew up in Zibo City, Shandong Province. Both of his parents are from worker-peasant backgrounds. After graduating from high school, Xu Yangtian entered Qingdao University of Science and Technology to major in international trade. It is reported that he taught himself “search engine optimization” at that time, purchased some domain names, and established a website for overseas markets, selling gaskets and other Chinese manufacturing industries as an agent Taste.
People who know Xu Yangtian well pointed out that he realized at that time the special role played by “small factories” in China’s supply chain, and realized that procurement could not be haphazard and that only those products that could be “sold” must be purchased. These became the basis for his future development of Xiyin.
People who have met Xu Yangtian generally have positive comments about him. For example, according to Frances Townsend, a senior consultant at Xiyin, Xu Yangtian is described as a diligent, frank, straightforward person who always gets to the point of the issue and who “never seems to have to sleep.”
“No matter when you go, even at 2 or 3 o’clock in the morning, you can see Xu Yangtian and his team having a meeting.” In a Chinese online forum, a person claiming to be a Xiyin supplier commented.
Others alleged that he often wore pajama-like cotton shirts and trousers when working, and that he was very familiar with the operations of the small factories that Xiyin cooperated with, and could always tell the average salary of garment workers immediately.
Under the leadership of Xu Yangtian, Xiyin has established a super-efficient flexible supply chain that has subverted the global fast fashion industry. It uses the unique algorithm developed by the company to grasp customer needs in real time, and uses the “quick return for small orders” method to ensure that every day Thousands of new clothing styles can be launched, and most of the products can be sold.
“I think they are unwilling to appear in public.” Townsend observed in a recent interview with foreign media, but she also said, “If they decide to IPO, they need to face the public.” Once they walked to the stage, the low-key Xu Yangtian again How will the move be made? The outside world will wait and see.For more information, please refer to the latest issue of “Today’s Weekly” (Issue 1412)
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A small village in Guangzhou has created the fast fashion giant SHEIN with a valuation of 2 trillion!It is said that employees do not recognize him and never sleep… The 40-year-old mysterious founder reveals the secret
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