Shein, the controversial fast fashion retailer located in Guangzhou has created a fund of 10 million dollars to support global non profit organizations. It aims to empower entrepreneurs, support underserved communities, ensure animal welfare, promote the circular economy, and provide financial support for businesses.
Although Shein has been criticized for not being transparent about any of the pillars within its supply chain, where it drops 1,000 styles every day at rock-bottom pricing, the company wants to be seen as ‘doing well’.
Shein released the name of Vital Voices, a global NGO which invests in women leaders, as the first recipient. The partnership will last for two years and cost 500,000 dollars. Others are still to be announced.
“Women’s participation is critical in all sectors and the changemakers in Vital Voices network are charting new courses for women’s leadership. We are delighted to partner with Shein because they invest in women who have strong roots in the community, bold ideas that cross divides, and a strong commitment in paying it forward,” stated Alyse Nelson President and Chief Executive Officer, Vital Voices Global Partnership.
Molly Miao is Chief Marketing Officer of SHEIN. She stated that “empowering individuals and giving back has been part our company DNA from day one.” Given the global inequity and increased barriers to economic development, Vital Voices is crucial. We hope that the SHEIN Cares Fund, in addition to Vital Voices’ partners, will continue to support many other organizations around the globe who are at the forefront of solving tough problems.