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Japan is an island country in East Asia.It is in the northwest Pacific Ocean and is bordered on the west by the Sea of Japan, extending from the Sea of Okhotsk in the north toward the East China Sea, Philippine Sea, and Taiwan in the south. Japan is a part of the Ring of Fire, and spans an archipelago of 14,125 islands, with the five main islands being Hokkaido, Honshu (the "mainland ...
- Japanese yen (¥)
A country's gross domestic product (GDP) at purchasing power parity (PPP) per capita is the PPP value of all final goods and services produced within an economy in a given year, divided by the average (or mid-year) population for the same year. This is similar to nominal GDP per capita but adjusted for the cost of living in each country.
USD /JPY exchange rate 1971–2023. The yen ( Japanese: 円, symbol: ¥; code: JPY) is the official currency of Japan. It is the third-most traded currency in the foreign exchange market, after the United States dollar and the euro. [2] It is also widely used as a third reserve currency after the US dollar and the euro.
- History
- Marketing
- Manufacturing
- Lobbying
- Tax Treatment
- Controversies
2008–2012: founding and early business model
Shein, originally named ZZKKO, was founded in China in 2008 by entrepreneur and search engine optimization (SEO) marketing specialist Chris Xu (Xu Yangtian). Information on Xu's educational and career background remains elusive as of 2022, with sources conflicting on details of his biography. According to The Guardian, some sources have described him as a Chinese-American who graduated from George Washington University (GWU). However, other sources indicate that Xu was born in 1984 in Shandon...
2012–2019: rebranding and retailer status
Shein made their products available in Spain, France, Russia, Italy, and Germany in the early 2010s; as well as selling cosmetics, shoes, purses, and jewelry, in addition to women's clothing. In 2012, the company established the current website and began using social media marketing by collaborating with fashion bloggers for giveaways and advertising items on Facebook, Instagram, and Pinterest. In 2014, Shein acquired Romwe, a Chinese e-commerce retailer, making it a "fully integrated retaile...
2020–present
Amid the COVID-19 pandemic in 2020, it reportedly made $10 billion in revenue, making it the seventh consecutive year of more than 100% sales growth for the company. As of October 2020[update], Shein was the world's largest online-only fashion firm. Shein was noted for being an early adopter of TikTokas a promotional tool, and the firm's ability to advertise viral items boosted its popularity. By November 2021, Shein grew from a company valued at $15 billion to one valued at $30 billion. Acco...
Shein is available through its website, and through dedicated mobile apps; it is distributed on the Google Play Store, App Store, Galaxy Store, and Huawei AppGallery. According to CNN, TikTok plays a large role in driving customers to the company website due to a TikTok trend of bulk buying clothes from Shein and presenting Shein clothes to their a...
Originally, Shein did not design its clothes. The company mainly sourced its clothing from China's wholesale clothing market in Guangzhou.However, Shein became a fully integrated retailer in 2014 when it secured its supply chain system. Now, the company utilizes a network of manufacturing partners and suppliers to make and deliver its products. She...
In 2022, Shein hired Akin Gump Strauss Hauer & Feld and Ben Quayle as lobbyists, according to U.S. federal lobbyist disclosures. According to Politico, Shein's lobbying campaign is geared toward shaking off forced labor claims.
Shein can avoid paying export and import taxes, contributing to larger margins. The U.S. legislative bill Section 321 in the Trade Facilitation and Trade Enforcement Act of 2015 (also referred to as "de minimis") states that any import up to $800 per person is duty-free.This bill has allowed Shein to deliver to the USA without paying taxes, allowin...
Environmental impact
Deutsche Welle released in late 2021 a video detailing the ultra-fast-fashion system Shein is built on, criticizing the targeting of young adolescents less likely to make wise financial decisions, as well as the caused environmental impact. Other media outlets have pointed at the addictive nature of the app, noting how its low prices get people to buy things they do not need. Due to the affordability of Shein, most clothes are not high quality and can lead people to dispose of them, exacerbat...
Unsafe lead exposure
Shein was also cited in a Marketplace investigation overseen by professor Miriam Diamond at the University of Toronto for selling toddlers' jackets that contained almost 20 times the amount of lead permitted under Health Canada's safety regulations. The company also sold a red purse that contained five times the permitted amount of lead.Shein notified Marketplace that they would stop selling the two items and would stop getting supplies from the corresponding suppliers until the problem was a...
Labor law violations
In 2021, a Public Eye investigation reported that employees of six Shein suppliers in Guangzhou were working 75 hours per week in breach of Chinese labor laws.Public Eye also discovered workshops with blocked corridors and stairways. Shein said it has built an in-house team to monitor supply-chain partners and engages with independent agencies such as the Intertek Groupto conduct regular and unannounced audits.
What links here Related changes Upload file Special pages Permanent link Page information Cite this page Get shortened URL Download QR code Officially, among Japanese names there are 291,129 different Japanese surnames (姓, sei), as determined by their kanji, although many of these are pronounced and romanized similarly.
Japanese birth and death rates since 1950. The drop in 1966 was due to it being a "hinoe uma" year which is viewed as a bad omen by the Japanese Zodiac.Historical population of Japan The demographics of Japan include birth and death rates, age distribution, population density, ethnicity, education level, healthcare system of the populace, economic status, religious affiliations, and other ...
Current ISO 3166 country codes. The sortable table below contains the three sets of ISO 3166-1 country codes for each of its 249 countries, links to the ISO 3166-2 country subdivision codes, and the Internet country code top-level domains (ccTLD) which are based on the ISO 3166-1 alpha-2 standard with the few exceptions noted.