In 2008, Xu, founder and CEO of SHEIN, established a company named Nanjing Information in Nanjing, which was the original form of SHEIN. In 2009, Xu saw the business opportunities of cross-border e-commerce and began to turn to cross-border e-commerce. In 20 12, he gave up the original wedding dress business of cross-border e-commerce, bought the domain name Sheinside.com instead, and began to focus on the overseas fashion single product market, which finally succeeded.

Since 20 14, SHEIN's original external supply chain has been unable to meet its huge stocking demand. So, on 20 15, SHEIN decided to move from Nanjing to Panyu, Guangzhou, and set up his own supply chain. In the same year, SHEIN entered the Middle East market and its sales soared. In 20 16, SHEIN's global sales reached about 4 billion yuan, and by 20 17, the sales had exceeded10 billion yuan.

According to App Annie, on May 1 1 local time, SHEIN became the most frequently installed shopping application on Android in the United States, and it also reached the top on iOS six days later. As of May 17, SHEIN ranked first among iOS shopping applications in 54 countries and first among Android devices in 13 countries, but SHEIN didn't even make any comments on Google's platform.

At present, known investors include Gifford Asia, IDG Capital, private equity giant Lin Jing Capital, Sequoia Capital, Tiger Global and Shun Wei Capital. In August, 2020, SHEIN completed the E-round financing, with a valuation exceeding $654.38+0.5 billion.