“I am investing in companies that I can help,” Claure said in an interview with Bloomberg News. “Shein fit the profile of the type of company that I was looking for, which was a global company, a highly disruptive company.”
Fast-fashion giant Shein is rapidly ramping up manufacturing in Brazil, with 100 factories already producing for the online retailer since it announced plans to invest US$148 million in the region a month ago.
It’s part of a bigger plan to expand production outside of China and to embrace rapid growth in Latin America, said Marcelo Claure, Shein’s chairman for the region and a shareholder in the company.
