Four Chinese brands on Time 100 most influential companies list

Surpassing Amazon in app downloads worldwide, Shein has become the most downloaded shopping app on iOS and Android platforms in the United States, National Business Daily reported on Thursday.

As an international B2C fast fashion cross-border e-commerce company targeting global young consumers, fast-fashion upstart Shein takes full advantage of China's industrial chain and makes its prices so cheap that European and American consumers often find it hard to believe.

Shein has achieved over 100 percent growth in revenue for 8 consecutive years, and has become the largest cross-border apparel e-commerce provider in China in terms of sales volume, with more than 20 million annual active users, according to National Business Daily.

Shein's growth speed further accelerated 300 percent, achieving revenue of about $10 billion in 2020 when the outbreak of the COVID-19 pandemic triggered explosive growth of online sales, China Entrepreneur reported on Friday.

Time magazine divides these companies into five dimensions, namely, pioneers, titans, leaders, innovators and disruptors by soliciting information across sectors including health care, entertainment, technology.

Opinions from editors, correspondents and industry experts were collected and key factors influenced the evaluation of these companies included relevance, impact, innovation, leadership, ambition, and success, according to Time.