From nothing to $1b: Inside Temu and Shein’s flying start in Australia

The fast fashion group and Temu, an ultra-cheap marketplace, are rewriting the rules of retailing as shoppers flock to their low-cost platforms.

Nick Bonyhady and Carrie LaFrenz

Mar 13, 2024 – 5.00am

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Shein, the fast fashion group founded in China and now based in Singapore, is on track to make more than $1 billion in revenue from Australian shoppers despite employing just three people locally, heralding a wave of new online businesses challenging retailers.

New filings with the corporate regulator provide the first glimpse at Shein’s performance in Australia – and at the local structure of its rival, the ultra-cheap marketplace Temu.

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Nick BonyhadyTechnology writerNick Bonyhady is a technology writer for the Australian Financial Review, based in Sydney. He is a former technology editor, industrial relations and politics reporter at the Sydney Morning Herald and Age.

Carrie LaFrenzSenior reporterCarrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club.