Shein Net Worth, Revenue and Growth Statistic 2024 Analysis

The rise of Shein has reshaped the global fashion landscape, and its financial trajectory in 2024 is proof of that impact. This analysis explores Shein’s net worth, revenue performance, and rapid growth across key markets. With a data-driven approach and an eye on current trends, we break down how Shein’s business model continues to outperform traditional retail giants. Get the latest numbers and insights on one of the fastest-growing fashion empires today.

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What is Shein?

Shein is a global online-only fast-fashion retailer, founded in 2008 by Chris Xu (Xu Yangtian) in Nanjing, China, originally under the name ZZKKO. Initially focused on wedding dresses, it expanded into women’s clothing in the early 2010s and later diversified to include men’s and children’s apparel, accessories, shoes, beauty products, and home goods. 

Headquartered in Singapore since 2022, Shein operates in over 150 countries, leveraging a data-driven, ultra-fast fashion model that produces thousands of new styles weekly at low prices. Its target audience is primarily Gen Z and millennial women, attracted by trendy designs and affordability. 

Shein’s innovative use of AI, social media marketing (especially on TikTok and Instagram), and influencer partnerships has made it a leader in the fast-fashion industry, though it faces criticism for labor practices, environmental impact, and product quality.

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Shein Growth Statistic

User Growth and Market Penetration

Shein’s user base is predominantly young, female, and budget-conscious, with a focus on Gen Z (born 1997–2013) and millennials. Key user statistics for 2024:

1. Active Users: Shein has approximately 88 million active shoppers worldwide, up from 74.7 million in 2022. In the U.S., it has 13.7 million active users. (Mobiloud)
2. Demographics:

• 64% of users are women, 36% are men.
• 30% of users are aged 25–34, 20.9% are 35–44, and only 6.1% are 65 or older.
• One in three shoppers is a millennial. (Wethrift)

3. Engagement: The average Shein customer spends $100 annually on women’s clothing, with an average household income of $63,500. In May 2024, Shein’s website and app recorded 215.42 million visits, with an average session lasting 12 minutes and 24 seconds. (Wethrift)
4. U.S. Popularity: In 2024, 24% of U.S. respondents shopped at Shein in the past 12 months, making it the third-most popular fast-fashion retailer behind Temu and H&M (both 26%). Among U.S. and UK Gen Z, 30% shopped at Shein. (BacklinkO)

App download

Shein’s mobile app is one of the most downloaded shopping apps globally, with 261.9 million downloads in 2023 and 199.4 million downloads in 2024 (as of October), ranking it consistently among the top shopping apps worldwide. (Business of apps)

The app was the second most downloaded shopping app worldwide in 2024, with approximately 235 million downloads. Brazil emerged as a key market for app downloads, with over 53 million downloads in 2023, followed by strong download numbers in the U.S. and other countries. (Analyzify)

>> Read more: 14 Best Clothing Apps Like Shein in 2025

Market Share and Global Reach

Shein holds an estimated 18% market share worldwide within the fast fashion category, making it one of the largest fast-fashion retailers globally. It ships to customers in over 150 countries, with the U.S., Brazil, Mexico, France, Spain, and Canada among its largest markets by traffic and sales. (BacklinkO)

Product Output

Shein adds about 2,000 new stock-keeping units (SKUs) daily, releasing over 300,000 new products annually, compared to H&M’s 4,500 new products per year. This rapid turnover allows Shein to stay ahead of trends. (Mobiloud)

Employee Growth

Shein employs over 16,000 people worldwide, supporting its vast operations and rapid growth. (BacklinkO)

Shein net worth 2024 and financial metrics over the years

Shein net worth

Shein’s valuation in 2024 is estimated at $45 billion, down from $66 billion in 2023 and a peak of $100 billion in April 2022. The valuation drop reflects slower revenue growth (23% in H1 2024 vs. 40% in 2023), regulatory risks (e.g., U.S. de minimis rule changes), and competition from Temu. (Sacra)

Historical Shein net worth:

Shein owner net worth

Shein’s founder, Chris Xu (Xu Yangtian), is a U.S.-born entrepreneur and SEO specialist. His net worth is tied to Shein’s valuation and his ownership stake. According to, Chris Xu’s net worth is approximately $10 billion, based on Forbes’ 2022 estimate when Shein was valued at $100 billion. Given the 2024 valuation of $45 billion, his net worth may be lower, likely in the $5–$7 billion range, assuming he retains a significant stake.

Shein revenue and sales over years

In 2023, Shein’s gross merchandise value (GMV) was approximately $45 billion, with nearly 1 million orders shipped daily. In 2024, GMV is estimated to approach $50 billion.

From 2019 to 2023, revenue surged more than 10-fold, from $3.15 billion to over $32 billion. The forecast for 2024 anticipates Shein revenue reaching between $48 billion and $50 billion, with further growth to approximately $56 billion by 2025. Below’s detail about Shein revenue over years:

Shein Revenue by Country

Shein generates revenue across 150+ countries, with the U.S., Brazil, and Mexico as its largest markets. Exact country-by-country revenue breakdowns are scarce, but available data highlights key regions:

• United States: The U.S. is Shein’s largest revenue market, contributing an estimated 30–40% of total revenue ($11.4–$19.2 billion in 2024). It has 46.9 million unique monthly visitors and 13.7 million active users.
• Brazil: Brazil is Shein’s largest market by usage, with significant revenue growth since Shein began testing its marketplace model there in 2023. Estimated revenue share is 10–15% ($3.8–$7.2 billion).
• Mexico: A fast-growing market, Mexico ranks among Shein’s top three, with revenue likely in the $2–$4 billion range.
• Europe (e.g., Spain, UK): 20–25% of revenue ($7.6–$12 billion), with strong growth in Gen Z adoption.
• India and Saudi Arabia: Early growth drivers, now smaller but still significant, contributing 5–10% ($1.9–$4.8 billion).

Note: Shein does not sell in China, focusing exclusively on international markets. Revenue estimates are based on market share and user data, as Shein doesn’t publicly disclose per-country figures.

Shein profit and profit margin

Shein has been profitable since at least 2019, but margins vary due to high logistics costs, marketing spend, and regulatory pressures. Shein net profit in 2024 is estimated at $1 billion, down 37.5% from $1.6 billion in 2023, reflecting a 70% drop in H1 2024 ($400 million on $18 billion revenue). 

Lower margins in 2024 stem from increased competition (e.g., Temu), higher shipping costs, and investments in compliance amid IPO preparations. Besides, Shein’s tax advantages (e.g., U.S. de minimis rule) have historically boosted margins, but proposed rule changes threaten profitability.

Shein historical profits:

• 2021: $1.1 billion
• 2022: $700–$800 million
• 2023: $1.6 billion

Shein profit margin:

• 2023: 5% (up from 3.5% in 2022)
• 2024: 2% in H1, recovering to 8% in Q3

Key takeaway from Shein net worth and growth statistic

Shein’s meteoric rise reflects its mastery of technology, social media, and supply chain efficiency, making it the world’s largest fast-fashion retailer by market share in 2024. Its $45 billion valuation, while down from a $100 billion peak, underscores its dominance, with $38–$48 billion in revenue and 88 million active users. 

However, challenges loom: slowing growth (19% YoY in 2024), declining profits ($1 billion), and regulatory risks (e.g., U.S. tariff changes) threaten its IPO prospects. Competition from Temu and environmental/labor controversies further complicate its path. Shein’s ability to adapt—through marketplace expansion and sustainability efforts—will determine if it can sustain its lead over rivals like H&M and Zara.

FAQs

How much is Shein net worth?

Shein’s net worth, or valuation, is estimated at $45 billion in 2024, down from $66 billion in 2023 and a high of $100 billion in 2022.

How does Shein make money?

Shein generates revenue by selling low-cost fashion and lifestyle products directly to consumers via its app and website. Its model relies on:

• Small-batch production to test trends, scaling popular items.
• AI and data analytics to predict demand and minimize waste.
• Social media marketing and influencer partnerships to drive sales.
• Tax advantages (e.g., U.S. de minimis rule, though under review).
• Expanding into a marketplace model, selling third-party brands.

What is the value market of Shein?

Shein’s market value in 2024 is $45 billion, based on secondary market transactions and funding rounds. It operates in a global fast-fashion market worth $150 billion, expected to grow to $211 billion by 2030, with Shein holding an 18% share.

Who is Shein’s biggest competitor?

Shein’s biggest competitor is Temu, a Chinese e-commerce platform with $50 billion GMV in 2024 (up 250% YoY). Temu led shopping app downloads in 2023 (337.72 million vs. Shein’s 261.94 million) and competes on price and variety. Other rivals include:

• Inditex (Zara): $32 billion revenue, 17% market share.
• H&M: $22 billion revenue, 5% market share.
• Fashion Nova and Boohoo (smaller, online-only brands).

Is Shein bigger than H&M?

Yes, Shein is bigger than H&M in revenue and market share:

• Revenue: Shein’s 2024 revenue is $38–$48 billion vs. H&M’s ~$22 billion (2022).
• Market Share: Shein holds 18% globally and 40% in the U.S., compared to H&M’s 5% globally.
• Growth: Shein’s 19–23% YoY growth in 2024 outpaces H&M’s single-digit growth. However, H&M has a stronger physical retail presence (4,000+ stores) and higher profit margins (~7% vs. Shein’s 2–8%)

Which countries buy Shein the most?

The top countries by Shein purchases (based on revenue and usage) are:

1. United States: 30–40% of revenue ($11.4–$19.2 billion), 46.9 million monthly visitors.
2. Brazil: 10–15% of revenue ($3.8–$7.2 billion), highest user base.
3. Mexico: 5–10% of revenue ($2–$4 billion), fast-growing.
4. Spain and UK: Key European markets, part of 20–25% revenue share.
5. India and Saudi Arabia: Smaller but significant, 5–10% combined.

Shein net worth 2024 and explosive revenue growth are clear indicators of its unstoppable momentum in the fashion industry. With agile supply chains, influencer-driven marketing, and global reach, Shein’s numbers speak volumes about its business model and consumer appeal. As we watch this juggernaut evolve, one thing is certain: Shein isn’t just keeping up with fashion trends—it’s setting them.