Shein will soon be bigger than H&M and Zara

Chinese fast fashion giant Shein is poised to surpass both H&M and Zara in revenue this year, with the retailer reporting 23 billion dollars in earnings for 2022, as per data from the Wall Street Journal. The substantial growth in sales anticipated for 2023 further solidifies this position. In the initial three quarters alone, Shein's revenue reached 24 billion dollars, outpacing H&M's 16.4 billion dollars in the corresponding period. It will also likely overtake Zara's 18.3 billion dollars for the first half of 2022, positioning Shein as a formidable force in the fast fashion market by year-end.