Sources say that Softbank Corp. 's former COO will join China's cross-border e-commerce company Shein.
CTOnews.com January 31 news, according to the Wall Street Journal report, informed sources revealed that China's cross-border e-commerce Shein will appoint former Softbank Group executive Marcelo Claure as chairman of Latin America business. Claure also personally invested about $100 million (currently about 675 million yuan) in Shein.
Claure served as SoftBank's chief operating officer and is known for his role in resolving issues related to SoftBank investments, including WeWork and Sprint.
Claure left SoftBank in January 2022 due to a disagreement with SoftBank over billions of dollars in compensation. He was CEO of Sprint from 2014 to 2018.
CTOnews.com has learned that news emerged in the middle of this month that Shein was in talks with existing investors for up to $3 billion in financing deals, but was valued at $64 billion, down about a third from its previous peak valuation of $100 billion.
According to the official information of SHEIN, SHEIN was founded in 2012. It is a global fast fashion e-commerce platform. At present, it directly serves consumers in more than 150 countries and regions around the world. It has operation centers in Guangzhou, Singapore, Los Angeles and other major markets. SHEIN sells 600,000 items a day, covering clothing, shoes, makeup, home and many other categories.
