YouSaid · the spoken record

Donald Tang

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64
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2024-09-30
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2024-09-30
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  1. “Now we actually have significant advantage of the scale and that we can continue to scale it. Or in this stage, do we want to steer it to the right choice? So it's about choice. It's about your choice.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “Danny is very, very lucky to know what the main thing is, but most of us don't know what the main thing is. So if you want to keep the main thing main thing, what is the main thing for you?”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “I would ask you how do you stay focused and then treating every minute kind of productively? How do you do that? What's your answer?”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “I think my girlfriend married me as a dishwasher. Noah take it back. That's a very kind thing. It's not the kindest thing. But to actually listen to me and having no sense of logic at all and just believing in my own BS and keep on talking a great game and then still feeling that want to give me a benefit of doubt. And that's the kind of thing my girlfriend did and I loved it. other mentors of mine have done that.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “That's something I have learned from Sheen. You just have to be on demand. You have to figure out some ways to think who you are and what the marketplace or the world of demand of you. And then you kind of fulfill that demand. That's the way to fast becoming useful and valuable.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “When he got born and you come to the world differently, the ability to use the resources to acquire education, technology, all that, all of those tools becoming a not the equalizer actually is disequalizer.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “When I talk to people, this is like a life experience I've learned. When I talk to people, I felt sometimes I felt I have gone through my logic and come with my supporting data and then collapsing with skepticism to facts and then moving beyond that and the like. So I thought case closed. It's not that simple. It's far more complicated than that. How do you overcome certain age-old conviction and changing people's not only their mind their hearts? For example, the world is flat. I always believe the world is spiky. And how do you convince people of that, the upward mobility is really difficult to obtain? And downward mobility is like having lunch. And that's what people do. If you have different resources,”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “And then go for it. And then you don't call it obsession. This is your fun. It's like you're chatting. Now you're saying, okay, I have to work, I have to chat your friend. You have to chat with your friends. You have to watch TV. It makes me to think that you're actually making choices. And they have equal weight. They're not equal weight. And for some people, this is like really preferred. For you, this is really preferant. So you have already made the decision. So that's not an obsession.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “I haven't thought about that. So, if you're saying the obsession of Shein is about the consumers, I agree with you. That doesn't necessarily translate into everybody has to work many hours.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “I disagree That's the obsession is a good thing, but you cannot just generalize it. If you generalize everything, then that's why we have identity crisis. You know, there are a lot of these kind of things. Obsession is good in certain parts of your life, in certain periods of your life, and in certain way of you doing things. But it cannot be good for everything, everything you do.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “Not necessarily about that, I think, in life. I'm guilty of that too, is good must be expensive. Inexpensive must be bad.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “Just have to let it go. You're not directing anything, you're not owning anything. You just want to be on demand. You wanted to do what this precious being wants you to do and do whatever you can to make this thing as good as she defines as it is, not what you define.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “When you actually look at your child for the first time, it is the most memorable moments in your life. Bonan. And I can bet anything with you once you have that moment. That would be the most memorable moments. Now, the tough part is after that moment, then it becomes very challenging. It's probably the most challenging project, if you call it that way, or the most rewarding project. And then they come hand in hand.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “You don't need advice. If I had to tell you something, don't let money get into your head. Meaning the money is just another tool. The focus is doing things meaningful and stay focused and stay happy and be nice to the people around you. I think that's about it. You cannot be nice to everybody in the world because now you're overthinking or you're giving yourself too much credit. In your core and you keep on doing things and making decisions, like you said, don't leave decisions unmade.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “Say, I would say if you keep on making decisions right or wrong and that you have less of burden of unmade decisions because you don't allow that pile up. So you don't have a lot of them, so it doesn't weigh on you. So the truth is, if you have a made decision, don't think about it. It's already gone. You're not going to go back and make another decision. And it could be better, could be worse. Who knows? Why even think about the things you haven't done? Why even think about the things that never happened? So just keep on making decisions going forward, moving forward.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “I don't overthink that. So you can joke about regrets, but you don't drill on it. Everybody has regrets. Some people talk about it or think about it all the time. Some people have their thoughts and move on.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “All the time. All the time. I haven't been as a good father to my kids, of course. But that's your better half comes in and fulfill the responsibility I haven't fulfilled.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “That's pretty easy for me. If you're a young person, you have the L is a different L. And then later on, obviously any kind of relationship will have challenges. And you have to overcome it with love, right? So you have to be powered by love. That's a different L. But truthfully, everything about a successful marriage as an outcome always have luck. We have eight billion species. How do you have two people to be the best kind of match? It is not scientific. If you're a science-based person, you say that's not very genuine. But it is genuine because if you actually have the best pair, that means there's some luck involved. And then you puddle with love and then in the very beginning you're attracted by certain type of L.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “We think about how we're going to solve problems every day. We think about how big is a TAM, how we're going to organically grow. And so far we still have significant growth. So far, we're still profitable. And we're worrying about one step at a time. And to really look at the consumer's needs as the most important need and to satisfy her and him and to do better every single time.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “Wanted to embrace public diligence, embrace scrutiny. We wanted to make sure we are not at the certain scale. We're no longer a brand new startup. We operate in more than 150 countries. What would be a better exercise to have to go IPO if you wanted to have public diligence and scrutiny and to seek total transparency? Once you're a public company, transparency is no longer an option. It is a responsibility. It is a requirement. And as we are doing this exercise, we are doing everything we can to make the company accountable.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “I feel that. I do. I think at the end of the day, the market would decide if it's an open capital markets. The market ultimately will decide whether this concept is right or not. You know, the consumer today decided they want to be our fence. They like our approach. They voted. So here's another test to see if the capital markets think this is a good business model, good approach.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  22. “Well, if it's on demand, it will be less because it's yours. If it's not on demand, you give me 10 things. Let me try it. And I tried 10 of them and none of them don't like it. I just return. And when that happened. So if actually this resume with me instead of you're saying I should buy it, now I want to buy it, then it reduces return theoretically”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  23. “We have the data to the survey to say that's incorrect, but that doesn't mean that people don't throw it away. There are still that 10% of people they still do. That's still bad. How do we, the question is, how do we make people before they buy make sure they actually will like it? Not it's somebody else telling you to buy. That's one. Number two is how do you actually love what you've got, right? In life, it's all about love what you got. If you love what you got, you're not going to be unhappy. Typically people go out to buy some more or have wandering eyes or whatever is because you don't love what you got.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  24. “So let me answer the whip bath for the climate first and I'm getting to the question you asked earlier. You know, if we are on the pre-consumption side of the equation for lack of unso to inventory, that must be pretty good. So that's good. And we should continue to do that on demand, not to have too many things. You know, you have, let's say, if you have four seasons, 100 styles and 25 for one, and then you have five gray ones that you pick the right. And then 20 didn't do well. And five of them, you only found out you have not made enough. And the other 20, you haven't made too much. That's imbalance. That's not a good business. The on-demand is every single time that you actually just sold or sold enough. Very little left over.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  25. “Let's take a look at why people want to reform. Everybody wanted to have a level of the playing field because that helps fair competition. Fair competition is benefiting the consumer. You want consumers to continue to receive things on the timely manner at the same time to enjoy their trendy clothes. All these things, if you consider them all together, that comes to perhaps a thoughtful way to elevate the disclosure. A thoughtful way to actually not to slow down, but speeding up the process. And perhaps certain things ought to be paying taxes to be fair, like TSA Pre. Whoever willing to share all the data, let's go. Fast. People don't want to share data. Go waiting line. So things like that can be resolved. If we can resolve in the right way, I think it helps the consumer protecting the business, also protecting not only consumer, also business and the merchants.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  26. “Improve the speed of time, delivery time, improve localization or globalization to have unique hubs for the continent so you can shorten the time. You can have better relationship with the consumers closer, develop better relationship with the stakeholders because you're closer, make your products more planet friendly because you're closer. There are a lot of things you can do to be on that journey, to be a better, more accountable business. So I talked about availability, accessibility, affordability. Now it is about accountability becoming a very significant important focus to focus on compliance, to make sure that we're not only compliant with local law. 150 countries, a lot of different type of laws we have to comply. It's an effort that we have to do that to be more transparent.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  27. “I think ourselves, right? So, if we become complacent, do not continue to improve our business model. We should try to refine and fine-tune our business model every single day to do better, not to be complacent.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  28. “Because the style that you want us to make is different than Saudis want us to make, they're just different. So if we are a provider of your choice, so you think of your brand as, okay, you have my stuff. It's not like, oh, you have the things that everybody else is buying, so therefore I'm buying. No, that's different. It's your style. So if it's your style, it must be individualized or localized or groupized or individual groupized.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  29. “We believe our brand is your brand. You know, if you buy things from us in UK versus people buying things from us in Saudi Arabia, by the way, we have a huge, very, very grateful that we have a very good following in Saudi Arabia, for example. And they think of us differently.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  30. “By collaboration, you have to look at all parts of the business and data, and then you make decisions. Principles are the same, I guess, or similar in all data-driven business.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  31. “It's also the stage dependent, right? So when it first entered, you know, you do differently in terms of marketing. As you become more mature, you also adjust your paid. So all these things”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  32. “No stakeholders would be your mayors, your governors, your MPs, your representatives in your districts, and your prime ministers. So a lot of the regulators. So all the people, and also to some degree, we don't really have exactly the competitor do same thing as we do by definition because our model is so unique. But people will say, okay, if these guys are taking wallet shares, therefore they're taking part of my market share. That's true. But we should share the business model we all can do better.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  33. “Well, in the very beginning of the time, that we paid more attention to the consumers. And I think to paying attention to stakeholders is a very important thing to do. And we should do it earlier, more often. And we still haven't done enough.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  34. “In today's world, we're morphing into something a little different as I have learned in the last years. The stakeholders are just as important as the customers. You have to keep the communication channel open. You have to keep on learning from the stakeholders what they're thinking about, what they think you should do. You should solicit and encourage feedback so you can constantly do better on real time. Let's say if the impression is correct that we're not doing something good and then we should correct it. If the impression is not correct and then we're actually doing something great people misunderstood, we should share it to have the community to embrace it. So all these things ought to be done in parallel as you grow your business so you become more stable and more accountable and more responsible.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  35. “Because you treat every single customer as the customer. If you are dictating a trend, then you sell the same thing same way all over the world. We sell different things differently to different people in different countries. And then the trick, obviously, to automate everything.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  36. “It's the same thing you listen to your customers. You know, if you're David, not a Goliath, you always listen, adjust, and respond. You continue to improve your response time and you continue to figure out ways to better service that customer so their choice of you become more resilient or more solid.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  37. “You spend appropriate amount of time, resources, and efforts to think about that in doing that. No one has the formula. It's a fairly new thing that we all have to try their own trajectory to do the right things. This is the right thing to do.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  38. “We don't think ourselves as a globalized company. We think ourselves as a globalized company with emphasis on the localizing. It's global local. Global local, as far as I can see is the trend. People are looking more inward as a trend, whether we like it or not. If you want your business to thrive on the global scale, you have to become a local community business. So in England or in Great Britain, you want to be a UK company. You want to be part of the fabric. You want it to be everything as part of the community. You don't want to be a some company parachuting in just making money. That's not. That's not the kind of trend anymore.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  39. “It's only for the people who are kind of privileged if you're talking to very resourceful people and successful people. Yes, you're right. But we're not serving just these people. We're serving everybody. Our mission is to make fashion accessible to all in every corner, every country, every community. And these are the people we'll address. And we want to improve their self-confidence to have a better tomorrow because they're confident. The freedom of choice is not free. How do you lower the price of freedom of choice to make sure people feel lack of resources, not a”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  40. “The Harris poll that we commissioned recently, the UK and the US, came back exactly that. Our customers wear our products longer and more often than others, other brands. Okay, so there are something there that we should begin. They believe that's their style. And for example, before I came over here, I was in the office of JD Sports, his assistant was there, or his chief of staff was there. She says she's a big fan of ours. I said, what is the most important thing? Why is that? Why do you like us? I always find the style I love on your site. They always have the same answer. It's their choice. When you're selling choice, it's powerful. Because at the end of the day, it's the customer who chooses you. They have all the choices around the world. They choose you. Because you have their choice.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  41. “With the colors, you know, I have repeatedly calling us on-demand fashion company because we, you know, I think the image of fashion conjures up the change. If you have change and you have two facts of a change, that kind of represents fickleness. And if you change your mind before you actually can wear them or wear them often, that becomes an issue to a lot of different groups. myself included. So if you can actually”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  42. “I think we are a grassroots business, or you can call it grassroots movement company. And every time you have grassroots and you would like to have some grassstops, that's what we've got. And they have intimate relationship with the group of like-minded people. That makes them very, very engaging and powerful. And if we work through that, that's quite effective.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  43. “It's on demand. On demand is basically supply chain ought to be on demand supply chain, shouldn't be on supply supply chain. It doesn't rhyme very well. It just doesn't make sense. It makes sense if everybody responds to your vision. I think that ship has sailed.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  44. “We're profitable. We have growth that unsold the inventory part, the way you have to deal with it, you have to market, you have to do all these kind of things is a headache. And management of the supply chain in the most efficient way is a headache.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  45. “Accessibility is the online part, and that affordability is because it's on demand and you listen to customer as a virtual cycle coming back to give you the affordability. So they're connected all these three A's.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  46. “I think there are many reasons people like to buy things. It could be somebody selling dreams. And that's a good thing. I like to live in my dreams. So I buy things from a dream factory. Some people are selling for very low prices. And sometimes I see the prices low enough and I like to try without really thinking through. We like to think our brand is selling for choices. If it is the choice you're making and we actually match that choice, then you'll love it. The ultimate is bespoke. But bespoke is for very, very, very well-to-do people. It's not for everybody. So we do approximate. When you approximate, you actually can't get to very significant part of what people really wanted at the lowest price possible. So we're talking about here the availability is your choice.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  47. “Well, as far as the customers are concerned, sometimes you call it follow the money. We follow the customer. We had younger generation Gen Z as our main customers. They grew up and then they get married. Now we have kids. They have houses and now we have pets and we have home goods, arts and crafts. And we have many. So we follow the trajectory of our customers. And sometimes the business itself is the customer always get to choose. They have all the choices in the world. All these online companies, all the physical retail, they choose us. There's a reason they do and they also wanted to continue to come back to do more with us. But we can possibly make everything we sell. So these apparel things we do make everything, not everything, most of the things we sell. But if it's a refrigerator, if it's a whole bunch of other things in electronics,”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  48. “The whole thing is not about for us, the partnership is not about squeezing. For us, partnership is about how to grow together, how to make money together. So we are empowerment company. We have no debt. We have no assets. And what we own is really partnership. What we really wanted to do is to make sure that that customer is really happy. You know, however the size, however the color preferences or style that he or she would like, whichever country that he or she lives, we just wanted to be the empowerment agent for the freedom of choice.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  49. “We have exclusive suppliers. We also have not exclusive suppliers, but all of them, if you want onboard with us, you have to be on our supply chain software platform. So we are able to actually conduct our on-demand business model as a result of it. Otherwise, we couldn't do it”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source

  50. “Then you can allocate orders if you don't know the capacity also where they are on the last order, you cannot network. You cannot reorient your orders, right? Or the allocation, if you think about Uber, command center, it's basically connecting all the pieces, the demand supply. And then our job is to match the demand supply to make sure there's no wastage. Our DNA is about to eliminate wastage and improving efficiency to the health.”

    2024-09-30 · The Twenty Minute VC · 20VC: How SHEIN Got So Big So Fast: Behind the Scenes at One of the Fastest Growing Companies in History with Donald Tang, Executive Chairman @ SHEIN · IDENTIFIED FROM THE TRANSCRIPT · source