Zara owner Inditex expands bargain brand to counter Shein
Zara owner Inditex, the world's biggest listed fast fashion company by sales, is expanding its low-priced Gen Z-focused brand Lefties to counter Chinese-founded rival Shein. The rapid growth of Shein, an online marketplace with no physical stores, is putting pressure on retailers like Inditex and Sweden's H&M to find ways to respond to its budget prices. Zara has become less competitive on price since Inditex started hiking prices at its core brand to protect profit margins from inflation and as part of a shift towards more upmarket customers.
Source: yahoo.com
