The Head-to-Head · Business Model
Three Fast-Fashion Empires, Three Different Bets on the Same 24 Months
Everyone calls Shein the winner of fast fashion. But its valuation fell from $100bn to a reported ~$30bn and its 2024 profit fell roughly 40% to ~$1bn — while Zara quietly earns a 57.8% gross margin selling clothes far slower. Three models, three different margins, one uncomfortable scoreboard.
8 min