Shein is a giant fast fashion retailer that's looking into filing an IPO. Fast Company Senior Staff Writer Liz Segran helps break down what that might mean for both the company and the fast fashion industry at large.
For more on Shein, check out Liz's article
Serendipitously, Shein’s head of strategic communications Peter Pernot-Day also joined us. He filled us in on how the company's on-demand model is constantly responding to consumers, creating low inventory levels, which leads to virtually no waste. "That means that we can pass on tremendous savings to our customers because we do not have to account for inventory risk in any of the garments we offer. Really, the entire purpose of the site is to give people lots of options to see what they actually want to wear at that present moment and then to produce only what we think they will actually purchase." He also discussed the company's zero tolerance for forced labor, vetting its supply chain and abiding by its environmental standards. "If a large player like us is paying attention to these things, that helps the entire supplier network, the entire supplier ecosystem realize, hey, this is the new way of doing business. This is what it means to participate with a global brand like Shein.
For more MIC behind the scenes, check out Yaz at @yazzyg on Instagram and Josh @joshuagchris on TikTok!