The split
SHEIN scales back its Vietnam warehouse from 15 to 6 hectares and cuts thousands of jobs as the US de minimis exemption ends
The same story, as told by newsrooms in different countries. Their words, attributed and linked.
Global / Vietnam
Reuters
“Just over a year ago, Chinese ultra-fast fashion retailer Shein began leasing 15 hectares of warehouse facilities, the equivalent of 21 soccer pitches, near Ho Chi Minh City, part of a grand experiment to make Vietnam a major export base.”
Reuters wire investigation filed from Hanoi and Guangzhou by Francesco Guarascio, Sophie Yu and Casey Hall; the first and earliest verified report of SHEIN's retreat, tracing the 15-hectare warehouse experiment near Ho Chi Minh City to its undoing by the US de minimis rule changeread the original ↗
Global
IndexBox
“Shein is sharply scaling back its Vietnam operations, reducing its leased warehouse space from 15 to 6 hectares and laying off thousands of workers.”
Market intelligence publisher; provided the specific warehouse size figures (15 to 6 hectares) and job loss description, and linked the retreat to SHEIN's forthcoming Hong Kong IPOread the original ↗
Japan
Japan Times
“The advantage of having a Vietnamese export base is no longer as large as it used to be.”
Japan Times Asia business desk; covered the retreat as a supply chain story, noting that Vietnam's advantage as a non-Chinese export base has narrowed to the point where SHEIN no longer finds it worthwhileread the original ↗