Before making its highly anticipated U.S. public debut later this year, Chinese-founded online retail behemoth Shein told CNBC that it is not trying to become an Amazon “clone.”
Product categories for the online retailer will probably “grow over time” as the company becomes more ingrained in the American market, according to Peter Pernot-Day, head of strategic communications for the U.K. and U.S. However, the nature of this expansion will differ per market and will primarily target younger Millennial consumers (those born in the early 1980s and late 1990s) as well as Generation Z (those born in the late 1990s and early 2000s).
Pernot-Day stated, “I don’t see us as an Amazon clone per se,” during the World Economic Forum in Davos, Switzerland.
The Singapore-based fashion brand gained popularity during the pandemic for its affordable and seemingly endless apparel lines, and since then, it has expanded into a variety of product categories, including electronics, sports, and home appliances.
Source (CNBC)
