SHEIN Invests $85M in Global Community Empowerment
SHEIN, the renowned global fashion and lifestyle marketplace known as "SHEIN Marketplace," has just revealed its commitment to allocate an additional $85 million over five years to further bolster the "Equitable Empowerment" facet of its comprehensive evoluSHEIN roadmap.
This substantial investment comes in addition to the $70 million previously pledged in April 2023.
The evoluSHEIN roadmap serves as the company's comprehensive strategy to confront societal and environmental challenges, ultimately making a positive impact on our world. This roadmap encompasses nine primary priorities grouped under three strategic pillars: People, Planet, and Process.
Equitable Empowerment, which resides under the "People" pillar, centres on uplifting and empowering the various stakeholders crucial to SHEIN's triumph.
Waste-less Innovation is geared towards enhancing SHEIN's operational processes, ultimately paving the way for a circular economy and waste reduction.
Collective Resilience articulates SHEIN's plan to collaborate closely with stakeholders across its shared ecosystem to ensure the sustainability of our planet.
The "Equitable Empowerment" pillar aims to enhance the well-being of communities deeply intertwined with SHEIN's mission and to provide individuals within these communities with opportunities to fulfill their potential. This includes aspiring designers, SHEIN's supplier network, as well as women, young people, and those less privileged.
Molly Miao, Chief Operating Officer at SHEIN, remarks, "At SHEIN, our goal is to equip our diverse stakeholder communities with the tools, resources, and financial support needed to bring about meaningful improvements and transformations, be it in their personal or professional capacities. This funding initiative will enable these communities to thrive in tandem with SHEIN as we collectively aspire to create a more equitable future."
The $155 million in funding will be distributed over five years among these groups as follows:
Aspiring designers: $50 million
SHEIN's manufacturing supplier community: $70 million (as previously announced in April 2023)
Women, young people, and the underprivileged: $35 million
Empowering Aspiring Designers
SHEIN has earmarked $50 million to fortify the SHEIN X Designer Incubator Programme, designed to empower up to 5,000 emerging designers over five years, enabling them to establish their own thriving brands. This additional funding elevates SHEIN's total investment in the SHEIN X Designer Incubator Programme to an impressive $105 million by 2028.
Since its launch in January 2021, this programme has witnessed remarkable growth, evolving from a mere seven participants to nearly 3,000 designers and artists hailing from over 20 countries. Together, they have introduced more than 25,000 original creations to a global audience.
Empowering the Supply Chain
SHEIN's Supplier Community Empowerment Programme (SCEP) is instrumental in facilitating the transformation of conventional production models within the company's manufacturing supplier network through technological advancements.
This initiative involves enhancing factory facilities, providing training and skills development for workers, and offering support to communities within supplier ecosystems located in Brazil, China, and Turkey. The initial commitment of $70 million for the SCEP over five years was announced in April 2023.
Empowering Local Communities
To enhance the quality of life in various communities, SHEIN is allocating $35 million over five years to expand existing or initiate new global or in-country social impact initiatives. These initiatives will be specifically geared toward empowering women, promoting gender equality, supporting the development of young people, and alleviating poverty.
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Source: SHEIN
