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SAO PAULO, April 20 (Reuters) – Online fast-fashion retailer Shein said on Thursday it will invest 750 million reais ($148.9 million) in Brazil in the coming years to establish a network with thousands of textile manufacturers in the country.
The company, which also announced a marketplace for products and sellers in Brazil, said it intends to partner with 2,000 manufacturers in the country, which should generate the creation of 100,000 jobs over the next three years.
Some 85% of sales made in Brazil should be sourced from local manufacturers and sellers by the end of 2026, it added.
“We have seen great success in Brazil since our launch in 2020, and with growing consumer demand, we saw the opportunity to further localize our supply chain,” Shein’s Latin America chair Marcelo Claure, said in a statement.
The Chinese retailer has grown into one of the world’s largest online fashion marketplaces since its 2008 launch. In Mexico, it faced concerns last year over its use of indigenous designs in a top, which prompted it to remove the product.
($1 = 5.0387 reais)
(Reporting by Andre Romani; Writing by Peter Frontini; Editing by Chris Reese and Sarah Morland)
((Peter.Siqueira@thomsonreuters.com; +55 11 56447727;))
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