Is SHEIN Shutting Down?

back as 2020. So where did these rumors come from in the first place? It appears that the “Shein shutting down 2024” rumor first gained traction in late 2023 and has continued to resurface periodically in the months since.

Despite being repeatedly debunked, the hoax seems to have staying power, possibly due to Shein’s explosive growth and controversial reputation within the fashion industry. The company continues to be very successful, generating over $30 billion in annual revenue according to a retail partner.

As of March 2024, Shein has nearly 10,000 employees and supplies customers in over 150 countries with an estimated valuation of around £51 billion.

Rather than showing signs of decline, Shein has filed for initial public offerings (IPOs) in both the US and UK and has been in talks with UK government officials about expanding to London. This points to continued growth plans…