Economic Impact of SHEIN in the European Union
SHEIN has released a report prepared by Oxford Economics to assess the company’s economic impact in key European Union (EU) markets, including France, Italy, and Poland. The report aims to provide a deeper understanding of SHEIN’s presence in the region and guide future growth and investment plans.
SHEIN’s Presence in the EU
The EU is a significant market for SHEIN, with over 100 million people interacting with the platform every month. As part of its localization strategy, SHEIN is expanding its team and operations in the region. The company has offices in Belgium, France, Germany, Italy, Poland, and Spain, as well as two major distribution and logistics centers in Wroclaw, Poland, and Stradella, Italy.
Job Creation and Economic Contribution
The report highlights that SHEIN has contributed to the creation of over 6,100 direct and indirect jobs within the EU. This includes jobs in analytics, website management, warehouse and logistics operations management, as well as a significant supplier network that includes services such as real estate, professional financial and insurance services, and distribution.
In addition to job creation, SHEIN’s investment in the local community has revitalized nearly 6,100 jobs. The company collaborates with over 40 last-mile service providers in the EU to fulfill and deliver orders to customers, benefiting intermediary agencies and European airlines.
Contribution to EU GDP
According to the report, SHEIN’s economic impact in the EU was approximately 1.1 billion euros in 2023. This contribution came from operations with the network of retail and wholesale retailers, as well as suppliers that provide local services in different countries, and the salary expenses of employees.
Sectors Benefiting from SHEIN’s Operations
The sectors most benefiting from SHEIN’s operations in Europe include business, professional, and real estate services (25%), distribution activity (24%), wholesale and retail sector (13%), and financial and insurance services (5%).
Supporting Digitalization and Online Businesses
SHEIN’s initiatives, such as SHEIN X and the deployment of its marketplace, are allowing more online businesses and independent designers to establish and scale. Over 600 European artists and designers have joined the SHEIN platform, and many have reported that SHEIN X has enabled them to integrate technology and information in real-time into their processes.
Future Investment Plans
Based on the report’s conclusions, SHEIN will continue to invest in expanding its presence in Europe and contributing to the local economy.