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Secretive Shein Founders Build $40 Billion Fortune in Rapid Fashion

The fast-fashion behemoth produces clothes quicker and cheaper than rivals, leading to a more than 2000% return for early backer Tiger Global.

Customers hold Shein bags outside the Tokyo showroom.
Photographer: Noriko Hayashi/Bloomberg

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By Venus Feng and Pei Yi Mak

December 12, 2022 at 5:00 PM UTC

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Not far from the chi-chi boutiques along Omotesando, Tokyo’s Rodeo Drive, sits a new emblem of international fashion.

Down Cat Street, beyond outposts of venerable names such as Ralph Lauren, Gucci and Louis Vuitton, are the first permanent premises of China’s fast-fashion phenom Shein.