For decades, the global clothing industry has been shaped by giants such as Nike, Adidas, Zara, and H&M. Yet a new contender has disrupted this familiar hierarchy: Shein. The Chinese e‑commerce powerhouse, famous for bargain prices, lightning‑fast design cycles, and enormous production capacity, has climbed to third place worldwide, overtaking Zara and closing in on Adidas, according to figures from GlobalData.
By 2024, Shein’s slice of the apparel market reached 1.53 percent, up 0.24 points from the previous year. Analysts attribute this growth to its ability to churn out ultra‑cheap, trend‑responsive collections, a formula that has kept it ahead of rivals despite ongoing scrutiny over labor conditions and environmental costs. Pippa Stephens, Senior Apparel Analyst at GlobalData, noted that Shein’s rapid ascent has siphoned sales from other online fast‑fashion specialists like ASOS and boohoo.com, both of which have struggled in recent years.
Nike continues to dominate the sector, holding 2.85 percent of global sales in 2024, with Adidas in second place at 1.79 percent. Their enduring strength stems from deep brand loyalty and high‑profile collaborations across sports and entertainment. Even so, Shein’s direct‑to‑consumer model and mastery of social‑media micro‑trends have placed it within striking distance of Adidas.
Meanwhile, Zara and H&M — once the pioneers of fast fashion — have seen their market shares stall at 1.24 percent and 1.06 percent, respectively. Their slower adaptation to shifting consumer demands has left them trailing behind Shein’s explosive online growth, particularly among Gen Z shoppers and those seeking affordable style.
