Apparel Industry: SHEIN Catches up With Market Leaders

The global apparel market has long been dominated by household names like Nike, Adidas, Zara and H&M. But in recent years, one brand has rewritten the rules of the game: Shein. The Chinese fashion brand and global online retailer known for its low prices, massive production volumes and rapid turnover of styles, has surged to the third spot in global market share, surpassing Zara and hot on the heels of Adidas, according to the British data analytics company GlobalData.

In 2024, Shein’s estimated market share in the global apparel industry sales has surged by 0.24 percentage point to 1.53 percent, "driven by its ultra-low price points and fast reaction to fashion trends, which helped it stay ahead of competitors despite the continued criticism regarding its labor practices and environmental impact". As described by Pippa Stephens, Senior Apparel Analyst at GlobalData: "Shein’s meteoric rise has subsequently taken share away from other fast fashion online pureplays, especially ASOS and boohoo.com, which have seen their sales plummet over the past few years."

As shown in our chart, Nike remains the undisputed leader, holding the biggest share of the world's apparel market (2.85 percent of global sales in 2024), followed by Adidas (1.79 percent). Both sportswear giants maintain their lead thanks to strong brand loyalty and collaborations with athletes, celebrities and designers. Yet, Shein, which has built its empire on social media-driven micro-trends and a direct-to-consumer model, was only a few tenths of a percentage point away from second place in 2024. Meanwhile, Zara and H&M, the fast-fashion model pioneers and main competitors in the sector, have seen their market shares stagnate (1.24 and 1.06 percent in 2024, respectively), as they struggle to match the agility and pricing of their Chinese rival. While both brands remain key players, their growth has been outpaced by Shein's explosive online expansion, particularly among Gen Z and budget-conscious shoppers.