Who sells in the Shein marketplace: from the Valencian Porronet to the luxury of Balenciaga

Who sells in the Shein marketplace: from the Valencian Porronet to the luxury of Balenciaga
Who sells in the Shein marketplace: from the Valencian Porronet to the luxury of Balenciaga

Buy Balenciaga on Shein. Although a few months ago this would have seemed impossible, the Chinese ultra-fast fashion company has opened its platform to third parties in Europe (a service that was already incorporated in other markets such as the United States and Brazil). Now, The company distributes products from international and national companies among which are names such as Balenciaga, Alexander McQueen, Calvin Klein or Champion, among other brands.

The company has not specified what type of relationship it has with the brands it distributes, that is, if it is the one who buys the merchandise and then distributes it, if the stock is owned by the brands or if it operates through intermediaries.

Among the Spanish names, the presence of the Valencian footwear company Porronet stands out.. The company has its headquarters in the Elche business park and was launched more than forty years ago by the late José Martínez (socially known as el Porró). The company, which is run by the second generation of the founding family, has a turnover of around 7 million euros and has profits of around 100,000 euros, according to available data for 2020.

With this Shein strategy, which follows the path taken by others pure players such as Asos or Zalando, seeks to leverage its growth strategy in services for third parties, a formula that provides more profitability and also allows it penetrate markets such as Europe, where it has received notable criticism for its fast fashion model. The company has a section on the website called Brand Zonewhere it distributes clothing, footwear or cosmetics, but where it also has other products such as Mattel dolls or Lego games.

Shein follows the path taken by others pure players such as Asos or Zalando and seeks to leverage its growth strategy in services for third parties

Among the international names There is a great offer from luxury companies, such as Balenciaga, Versace, Dolce&Gabanna, Alexander McQueen, Brunello Cucinelli or Calvin Klein. The clothing items available, many with a percentage discount applied to the original price, are priced similarly to those in the original store. In addition, Shein distributes a wide range of sports products, with companies such as Adidas, Puma or Nike, among others.

The Chinese company already landed this service in the United States and Brazil a year ago and at the time commented on the intention of also applying it in markets such as Germany, Spain, France and Italy. Shein also announced at the time “incentives and mentoring” to 100,000 SMEs, with the aim of enhancing the marketplace.

Based in Singapore, Shein has become one of the fastest growing operators in the sector. The company has distinguished itself with an ultra-fast production model, thanks to its integration with local suppliers in China.

In 2023, the group achieved a record turnover and a net profit of more than $2 billion, more than double that of 2022, as reported at the beginning of April. Financial Times. He gross merchandising value (GMV) of the company, for its part, reached 45,000 million dollars. The company, which has its sights set on the European stock market, hopes to make the jump to the London Stock Exchange in the coming months.

 
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