Shein, the controversial fast fashion store based in Guangzhou, has announced the creation of a $10 million fund to help worldwide non-profit groups working to empower entrepreneurs, support marginalized areas, ensure animal welfare, and promote the circular economy.
Shein has been chastised for not being honest about any of these pillars in its own supply chain, where it often releases 1,000 styles per day at rock-bottom costs, but the firm is eager to be regarded as ‘doing good.’
Shein stated in a news release that Vital Voices, a worldwide NGO that invests in female leaders, will be the first beneficiary of its financing, with a two-year 500,000 dollar agreement. Other factors are still to be revealed.
“Women’s engagement in every industry is more important than ever, and Vital Voices’ network of changemakers is setting a new path for women’s leadership.” “We are happy to collaborate with Shein as they invest in women with deep roots in their communities, daring ideas that cross differences, and a strong commitment to paying it forward,” said Alyse Nelson, President, and CEO of Vital Voices Global Partnership.
SHEIN’s Chief Marketing Officer, Molly Miao, stated, “Empowering individuals and giving back to those in need has been part of our corporate DNA since day one.” “With the worldwide concerns of unfairness and the strengthening of hurdles to economic progress, organizations like Vital Voices are important.” We hope that, in addition to our Vital Voices partners, the SHEIN Cares Fund will help many more groups throughout the world that are on the front lines of confronting difficult situations.”