At first glance, the company**;s results over the last three years show a slowdown, primarily led by the US, which was once its biggest market. The contribution of the US to Shein’s total sales has consistently declined since ****, when the US accounted for **.* per cent of revenue, and is now only **.* per cent, according to IPO prospectus.
“The removal of the de minimis exemptions and the imposition of tariffs in the US has had a significant impact on what was once Shein’s largest market. Unfortunately, this does not look like it will be a temporary disruption and Shein will now have to lean into other geographies to drive growth,” Neil Saunders, managing director of retail at GlobalData, told Fibre*Fashion.
Inside the US numbers
During the first quarter, Shein only raked in sales of $*.** billion from the US and that accounted for **.* per cent of the $*.** billion total revenue made in the quarter ending on March **.
