The Chinese fast fashion retailer Shein is investing in “global community empowerment”. Over a period of five years, 85 million US dollars (79.7 million euros) will be invested in initiatives to address the company’s social and environmental challenges, Shein announced on Monday.
In particular, one pillar of Shein’s ESG roadmap (environmental, social and corporate governance) is supported, “equal participation”, or “the human pillar”, according to the statement. This is intended to create opportunities for stakeholders of the Chinese fast fashion provider – including emerging designers, manufacturers and suppliers – to realize their full potential.
“At Shein, we want to give our diverse stakeholders the tools, skills and finance they need to improve and transform their lives; be it personal or professional,” said Molly Miao, Chief Operating Officer at Shein. “This fund will help our communities move toward a more equal future alongside Shein.”
In total, Shein’s investment amounts to $155 million. The company had already invested $70 million in its “roadmap” in April. This sum is divided into three areas, with up-and-coming designers from the “Shein X Designer Incubator Program” receiving $50 million and manufacturers and suppliers from the “Supplier Community Empowerment Program” receiving $70 million and women, young people and the disadvantaged with $35 million.
The latter represents the company’s efforts to strengthen local communities and their quality of life. The money will be made available “to expand or finance new global or national social activities” to “empower women in the community, promote gender equality, support the development of young people and combat poverty,” it said Shein.