(Yicai) Feb. 25 -- Shein continued its rapid growth last year, with the export value of the Chinese fast-fashion e-commerce giant exceeding CNY100 billion (USD14.5 billion) and its products reaching more than 160 countries and regions, its reclusive founder and chairman said while speaking at a public event for the first time.

Shein's meteoric rise has been thanks to Guangdong province's industrial ecosystem, Chris Xu said at the Guangdong High-Quality Development Conference as a representative of the business community in Guangzhou yesterday. The comprehensive local supply chain network, from garment plants in Panyu to logistics hubs in Baiyun, underpins the firm's "small-batch, fast-response" model, enabling it to shorten the cycle "from design to delivery into customers' hands to just two to three weeks," Xu stressed.

The deep integration of manufacturing and services is Shein's core competitive edge, Xu noted. "We use technology and digital tools to track global fashion trends and translate fragmented market demand into frontline production orders."

"Xu's first public appearance signals a major shift in Shein's narrative direction," said Hu Jianlong, founder and chief executive of Brands Factory. "By openly embracing his identity as a Chinese entrepreneur, he signals that Shein is no longer concealing its Chinese roots, but actively embracing them."

Shein had placed greater emphasis on presenting itself as a global brand headquartered in Singapore in recent years, deliberately downplaying its Chinese corporate identity, Hu noted.

Shein tightly links cross-border logistics with manufacturing so that "user feedback can directly trigger factory reorders or style refinements, driving manufacturing upgrades from the demand side," Xu pointed out. The company works with nearly 10,000 suppliers in Guangdong and supports more than 600,000 jobs across the province, he added.

Established in 2014, Shein has a valuation of CNY365 billion (USD53.1 billion), ranking as the ninth biggest unicorn in the world, according to the Hurun Global Unicorn Index 2025, which defines unicorns as startups founded in the 2000s, worth at least USD1 billion, and not yet listed on a public exchange.

Shein will "continue to put down roots in Guangdong, investing over CNY10 billion (USD1.5 billion) to build its intelligent supply chain system," Xu said. It also plans to deepen its participation in cross-border e-commerce and industrial cluster pilots over the next three years, helping more small and medium-sized plants tap into the cross-border segment, he stressed.

Xu's appearance also carries significant meaning for Guangzhou, according to Hu. The city has fallen behind Shanghai, Beijing, and Shenzhen in attracting major firms, so it's positive for a globally influential company like Shein to reaffirm its local commitment, he noted, adding that the value of its efforts to project a new-economy image may outweigh any direct economic returns.

Shein's initial public offering path remains unresolved. The company was reportedly planning to go public in London last April, while subsequent reports in July suggested it had pivoted to Hong Kong after facing obstacles in the United Kingdom's capital.

However, Shein told Yicai that the reports regarding a Hong Kong IPO were "false and malicious speculation." It has not made further updates on the matter since.

Editor: Martin Kadiev