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Fast Fashion Giant Faces Slowdown Amid Tariffs
1 Sep
Summary
- The fast-fashion retailer offers 4,700 new styles daily.
- Revenue growth slowed significantly to 8% last year.
- US customs duties and tariffs impacted Q1 growth.
The online fast-fashion retailer, which supplies approximately 4,700 new styles daily, has seen its rapid growth decelerate. Founded in China in 2012 and later headquartered in Singapore, the company offers over 2 million apparel styles overall and operates in about 160 countries.
While the company reported substantial net revenue growth of 41.1% in 2023 and 20.7% in 2024, this expansion slowed to just 8% last year, with total revenue reaching $41.8 billion. This slowdown is attributed to U.S. customs duties and tariffs enacted since May of last year. Consequently, revenue growth was only 1.1% in the first quarter of this year.
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