Why ‘Shein closes 2024’ is trending
Rumors that retail company Shein is closing have fans worried.
Fortunately, the claims that the clothing company is closing are just part of a hoax and the brand isn’t going anywhere.
Why is ‘Shein closes 2024’ trending?
The term “Shein shutting down 2024” started to become popular after false rumors that the brand would close circulated online.
The search has peaked on Google Trends several times since December 2023 and gained traction again in mid-February 2024.
Despite the rumors on social media, there is absolutely no truth to it.
On X, formerly known as Twitter, speculation that the brand will close as early as 2020 can be found.
TikTok users have also jumped on the trend, with numerous videos titled “Shein closing in 2024” making the rounds, adding to the rumors.
However, there is no indication that Shein is in danger.
Shein has become extremely popular since its founding in 2008 in Nanjing, China.
It was originally called ZZKKO and was founded by entrepreneur Chris Xu.
The company moved its headquarters from China to Singapore in 2022.
Over the years, Shein has faced a number of controversies, including accusations of antitrust violations by rival site Temu.
It was also hit by several copyright infringement lawsuits and in 2023 H&M sued the retailer for copying its designs.
Despite the legal troubles, it has been reported that Shein has filed for initial public offerings (IPOs) in both the US and the UK.
An IPO is a public offering in which shares of a company are sold to investors.
In February 2024, it was reported that bosses at the Chinese company were in talks with Chancellor Jeremy Hunt about coming to London.
As of March 2024, Shein has almost 10,000 employees.
The site serves customers in more than 150 countries and has an estimated value of around £51 billion.
How did Shein respond to the hoax?
Shein responded to the hoax on TikTok.
The company’s official page on the video-sharing app uploaded a clip addressing the rumors in January 2024.
In the short video, two employees can be seen laughing as the phrase “Shein closes in 2024” flashes across the screen.
The clip was simply titled “Business as usual.”
The news was clearly welcomed by fans, as it has been liked more than 730,000 times since March 2024.
It seems that not all of Shein’s followers got the joke, as many took it as confirmation that the site is indeed being shut down.
One fan took to the comments section to write, “NO PLS I CAN ONLY PROMISE SHEIN,” while another said, “No, don’t leave me behind Shein.”
Others took it as the denial it was intended to be, with one fan saying: “OMG WHAT A SCAM.”
As another reassured a fellow poster with: “I don’t think they will close. They made that video laughing because it’s not true.”
What have people said about the hoax?
Social media users have had mixed reactions to the Shein shutdown hoax.
Some expressed sadness and believed that the online store could actually close.
On X, a customer posted: “Why is Shein Trending #1? Don’t tell me they’re closing.”
Another said: “Wtf do you mean Shein is closing this year?..let me buy my cart.”
Others suggested it was time for the end of the brand, with one posting: “I’m glad SHEIN is shutting down! I’m tired of seeing the same f****** shirts and outfits. No shade.”
As another wrote: “Why are people on Tik Tok sad when they say Shein is closing this year? Shouldn’t that be good?”