Fast Fashion Retailer SHEIN Unveils Official Resale Platform SHEIN Exchange
SHEIN, an online retailer of fashion and beauty products, on October 17 announced the launch of SHEIN Exchange, an integrated online peer-to-peer resale destination to buy and sell previously owned products bought on the site.
SHEIN Exchange is currently available to all US customers, with plans to expand to other global markets next year. It was created in partnership with Treet, a leading resale technology platform creating circular fashion experiences for a number of fashion retailers.
With ease of access through the existing app, SHEIN Exchange simplifies the resale process, so it is convenient for sellers to list their items through a seamless interface that pre-populates a SHEIN customer’s previous purchases – making list-to-sale quick and easy.
The launch of SHEIN Exchange was inspired by SHEIN’s community of customers. Over the past few years, through community-created Facebook groups and social platforms, SHEIN customers have communicated an interest in resale destinations where they can buy and sell previously owned SHEIN products without the barrier of high platform fees that they are usually required to pay. The goal of SHEIN Exchange is to meet community demand by providing a one-stop destination for customers to become active participants in circularity and promote the benefits of purchasing pre-owned clothing over purchasing new items.
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SHEIN’s move also aims to address the ongoing issues of textile waste and build a future of fashion that is more circular. It also aims to influence and promote mindful consumption among its customers.
This year, SHEIN also became a signatory of World Circular Textiles Day, a coalition of brands, suppliers and other organizations who share a mission to shift the fashion and textiles industry toward full circularity by 2050.
“At SHEIN, we believe that it is our responsibility to build a future of fashion that is equitable for all, while also accelerating solutions to reduce textile waste,” said Adam Whinston, Global Head of ESG at SHEIN. “By harnessing the reach and the influence of our growing community, we believe that shopping resale can become the new normal in our industry.”
SHEIN is gaining worldwide popularity. Bloomberg previously quoted sources as revealing that its revenue growth in 2021 will be 60%. Although the growth rate is slower than 250% in 2020, its strong development momentum has won widespread attention from industry. In the face of an unfavorable environment across the whole industry, it is looking for opportunities in the face of adversity to achieve incredible milestones.
