Despite facing legal action from Tapestry’s Coach over alleged trademark infringement, SHEIN has emerged as the leading brand in apparel market share growth for 2024, according to a GlobalData report. The fast-fashion retailer increased its market share by 0.24 percentage points since 2023, surpassing established brands like Nike, H&M, and Louis Vuitton, which all experienced declines.
Pippa Stephens, senior apparel analyst at GlobalData, attributed SHEIN’s success to its “ultra-low price points and rapid response to fashion trends,” even amid criticism regarding labor practices and environmental impact. She also highlighted that SHEIN’s growth has negatively impacted other online fast-fashion retailers such as Asos and Boohoo, which have seen sales reductions.
The report also noted that Adidas saw a 0.17 percentage point increase in apparel market share, followed by Zara with a 0.05 percentage point growth. Zara’s growth was attributed to its efficient local supply chains and broad consumer appeal.
In the luxury sector, Chanel and Hermès defied the general luxury market slowdown by increasing their market share.
