THE WHAT? Shein has set aside a pot of US$85 million for global community empowerment over the next five years. The fast fashion firm will use the fund to support stakeholders as part of its wider ESG program.
THE DETAILS The Chinese clothing seller has already invested some US$70 million in its CSR program this year. Of the US$155 million total over five years, US$50 million will be invested in aspiring designers, US$70 million committed to Shein’s manufacturing supplier community and US$35 million allocated to women, young people and the underprivileged.
THE WHY? Molly Miao, COO at Shien, commented, “At Shein, we aim to empower our different stakeholder communities with the tools, capabilities and funding to improve and change lives, whether in their personal or professional capacity. This fund will support these communities to grow alongside Shein, towards a more equitable future.”