Shein’s ESG strategy, which is called the ‘evoluShein’ roadmap, is designed to tackle social and environmental challenges and help make a positive impact on society. The roadmap is structured into three pillars: people, planet, and process.
This latest set of funds is for equitable empowerment, which sits within its ‘people’ pillar and aims to uplift and empower stakeholders crucial to its success. This pillar is said to concentrate on aspiring designers, Shein’s supplier community, women, young people, and the underprivileged.
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Commenting on the announcement Molly Miao, chief operating officer at Shein said: “At Shein, we aim to empower our different stakeholder communities with the tools, capabilities and funding to improve and change lives, whether in their personal or professional capacity.
“This fund will support these communities to grow alongside Shein, towards a more equitable future.”
The new $155m fund will be distributed over five years among various groups:
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By GlobalData- Shein X Designer Incubator Programme: $50m to help 5,000 emerging designers over five years. This additional funding brings Shein’s total investment in the Shein X Designer Incubator Programme to $105m by 2028.
- Shein’s Supplier Community Empowerment Programme (SCEP): $70m to help its manufacturing supplier community transition from traditional production to models more technologically advanced methods, training, upskilling initiatives and community support for workers within Brazil, China and Türkiye.
- Women, young people, and the underprivileged: $35m funding will be directed toward expanding or initiating new global or in-country social impact activities focused on empowering women, promoting gender equality, supporting the development of young people, and poverty alleviation.
