Early Life
Sky Xu, also known as Chris Xu or Xu Yangtian, was born in 1984 in Shandong province, China. Xu's early life is described as being from a poor background. Xu developed an interest in search engine optimization (SEO) which would play a significant role in his future success.
Rise to Success
Xu's entrepreneurial journey began in 2008 when he co-founded Nanjing Dianwei Information Technology, a cross-border e-commerce business. The trio initially sold various products, eventually focusing on clothing, and developed the model that later became the foundation for Shein. In 2011, Xu created SheInside, an online wedding dress retailer based in Nanjing, which served as Shein's predecessor. He then rebranded SheInside to Shein and shifted its focus to fast fashion. In 2015, Xu moved his company's headquarters from Nanjing to Guangzhou and subsequently rose to become a global brand. Shein's success is credited to its popularity among younger Millennial and older Generation Z consumers. In 2022, Shein reached a valuation of $100 billion.
Key Business Strategies
Shein has built a network of suppliers in China, enabling them to churn out new clothing lines at breakneck speed. Shein utilizes a network of manufacturing partners and suppliers to make and deliver its products. Xu focused on digital and the speed of Chinese manufacturing – quickly conquering the European and American markets, competing with major players in the fast fashion sector. The company uses data analysis to intercept fashion trends and quickly launch specific lines at competitive prices.
Philanthropy
While specific philanthropy amounts are not available, Shein has made a commitment to sustainable practices. Xu pledged to invest in building a smart supply chain system.