Although millions of people buy clothes from Shein, few know its founder. Sky Xu rarely gives interviews, avoids public events and has no visible social media accounts. An adviser told the press that some employees do not even recognize him when he walks through the offices.
That discretion accompanied the company’s growth. Shein began selling clothes online and expanded to compete with major brands in different countries. In 2025, it generated US$41.8 billion in revenue.
A year later, it listed in Hong Kong after attempts to go public in New York and London. Since then, Xu and his partners have been required to share information about the business with investors.
His first steps online
Xu Yangtian was born in 1984 in Shandong, China. Little information is publicly available about his childhood, and accounts of his background differ. Chinese media have described his family as having modest means.
He studied and worked in international trade. One of his early jobs was at a company in Nanjing, where he specialized in search engine optimization. He learned how to improve the visibility of retail websites in search results, experience he would later apply to his own business.
In 2008, he left that job and established an online retail business with partners. Subsequent projects included SheInside, a website aimed at overseas customers that offered wedding dresses before adding other clothing.
Over time, the business focused on affordable womenswear. In 2015, the brand became Shein and moved its headquarters from Nanjing to Guangzhou, a city with a large textile industry.
In 2022, the company established its legal domicile in Singapore, where Xu also took up residence.
According to its listing prospectus, the people who have worked with him since the early years include general manager Maggie Gu, marketing executive Molly Miao and supply chain executive Tony Ren.
A store guided by data
Shein uses activity in its online store to decide what to produce. It tracks customers’ searches and purchases, releases small quantities of each design and orders more of the best-selling items. This allows it to test clothing without committing to large production runs from the outset.
Much of the clothing is made in workshops in Guangzhou. Through its software, the company sends suppliers orders that it adjusts according to sales.
The pandemic boosted online shopping, and Shein reached more young consumers. Its clothing circulated on TikTok and Instagram, while the app offered a constant stream of inexpensive new items.
In 2022, a private funding round valued the company at approximately US$98 billion. Xu, however, continued to make few public appearances.
Donald Tang, a former banker who joined as executive chairman, took responsibility for much of the contact with politicians and investors. According to people who worked with Xu, the founder remained closely involved in daily operations and company decisions.
The road to a stock market listing
Going public took several years. Shein initially pursued a New York listing, but encountered political and regulatory obstacles. It then turned to London, where the process also stalled while it awaited approval.
In July 2026, it received Chinese regulatory approval to list in Hong Kong. Trading began on September 1, and the offering raised approximately US$1.74 billion, valuing the company at around US$26 billion, well below its 2022 private funding valuation.
The listing did not change who controlled the decisions. The four founders retained almost 90% of voting rights through a class of shares carrying greater voting power. Xu holds 49.9% of the votes.
What changed was the obligation to disclose its finances. After years of releasing little information about its accounts and internal organization, Shein must now report results and answer to investors.
Slower growth and new costs
Shein went public as its business was changing. Revenue growth slowed from 41% in 2023 to 8% in 2025.
One change affecting its US sales was the removal of the import duty exemption for small packages, known as de minimis. The arrangement had made it easier to ship low-value purchases from overseas.
After the change, Shein’s US sales fell by more than 14%, and the company reported a quarterly loss of US$99 million in early 2026.
Europe, which accounts for more than a third of its revenue, also introduced a charge on low-value shipments. Meanwhile, Shein faces competition from other low-price platforms, including Temu.
The first accounts Shein presented after going public showed virtually stagnant sales and a decline in operating profit. To improve performance, the company announced plans to develop higher-priced brands and invest in technology and artificial intelligence.
A founder who prefers to stay out of the spotlight
Xu does not generally discuss his working methods in public. Most accounts of his leadership come from people who have worked with him or advised the company.
Those colleagues describe someone who pays close attention to operations. They also say he spent years questioning whether the company should go public and rely on external funding to compete.
Little is known about his life outside Shein. Collecting antique coins is among his interests. In February 2026, he briefly stepped away from his reserved public profile to address officials at a conference in Guangdong about the company’s investment in its supplier network.
During the attempts to list in the United States and the United Kingdom, politicians and regulators questioned the limited information available about Xu and Shein’s organization. The company committed to sharing more information once publicly listed.
Xu now needs to sustain sales while facing new tariffs and competitors. He will also have to explain more about the business he leads: its accounts and decisions will face greater scrutiny than during the years when he could remain largely out of public view.
