Chinese Shein expands resale platform to Europe
Shein announced that its resale platform will be available in Europe, where customers can buy and sell previously purchased products. The first country where Shein Exchange will appear is France.
These are not the only plans of the Chinese fashion giant. Reuters reports that the company is preparing to submit a prospectus to the British Financial Conduct Authority as it does not rule out going public on the London Stock Exchange.
Shein Exchange embarks on the conquest of Europe
Shein Exchange, a resale platform, was launched in the USA two years ago. However, the Chinese company operating in the e-commerce segment also intends to introduce it to Europe.
According to the official statement on the Shein website, the integrated platform will be implemented in three stages. "The first phase of the launch will see the platform being made available in France followed by the UK and Germany in subsequent phases," it reads.
Shein Exchange allows the sale of products previously purchased on this platform. The user guide states that the company must approve the offer form, which includes used clothing, and transfer the money to the seller after the purchase.
In this way, the company wants to popularize the purchase of second-hand clothes. In the official statement, the Chinese giant boasts that in 2023, over 4.2 million new users from the USA registered on Shein Exchange, and over 115,000 used items were put up for sale.
