China-founded fast-fashion giant Shein plans to invest nearly $150 million in Brazil, making the country its manufacturing and export hub for Latin America as the e-commerce platform continues global expansion, reports the South China Morning Post.
The investment will “provide tools and training for factories to upgrade their traditional production models” and “enable local producers to better manage orders, reduce waste at the source and lower excess inventory,” the Singapore-based company, which started in Nanjing, said in a statement on Thursday.
Shein also anticipates that its investment will help 2,000 local manufacturers create as many as 100,000 jobs within the next three years, it said. Its online marketplace plans to on-board third-party Brazilian sellers following a pilot programme last year.
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