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
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  1. “We like to think ourselves as an empowerment company. We have partners, we don't have transactions. Everybody's a partner. Fulfillment, chain of operations, distributors, distribution platforms, the supplier factories, and most of them have been with us for a long time. We grow together. It's not a big factory. Big factories won't take 100 pieces order. It's not enough. Smaller factories, they can grow with us.”

    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. “I want to say in a traditional apparel model would be mass producing the styles a few designers want you to wear. And we literally, micro-producing the styles that you want us to make. So that is the difference as very significantly different.”

    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. “It's not test, we actually make them, and then we sell them. If you sell them well, you pump it up. If you don't sell them well, you shut them down.”

    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. “Surge and then you started to network the factories to produce similar things. And then once you see the weakening signal, you shut them down. So that's how you control your inventories to such a degree of significantly less unsold inventory.”

    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. “As you search, as you discover and reflect yourself that you leave a trail of color mutations and style preferences. And most of the styles are no more, no less than all the mutations of such in different times. If you can reimagine the supply chain not as a mass industrialized production factories, if you imagine the factories are all networked, small and medium-sized. And if you can actually receive signals from the customers real time connecting with the factory software platforms, if you do that, if you're connecting those things and when you have 100, 200 pieces of a garments with hundreds of millions of active customers worldwide, and then you test it and then you started to see demand signals”

    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. “Pricing for that particular client, customer. So therefore, we do a lot more business seeing the rural areas, villages in UK than London, for example, and Paris and the like and America. The people who are living in the countryside do not have the time to travel to the city because they don't have the stores in certain areas and it takes money to come to the city. It takes time. And also they have less resources to dress themselves up prettier and trendier. So these are all the things about doing good as a result of doing good we can continue to grow and be profitable that's doing well. So if you really look at all these things, how you sequentially executing all these things, all of a sudden you find yourself doing good first and doing it well later. So that was a difference in Xu Yin.”

    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. “It's a little different today. And in the future generation, it will be more different. As a result of it, you have to have more styles in display in the world. And if you've managed to listen, that's part of doing good because you listen, you adjust, you respond instead of you dictate. And then once you actually listen and make the things they want you to make, then you have less and sold inventory as a result of it. And then you have a lot better efficiency of taking out all the middle layers and unnecessary waste and all that. And then you all of a sudden have a lot more savings, cost savings. As a result of it, you can translate that to lower prices to your consumers. Now, you listen to the consumers, you give back to the consumers, you contribute to less waste to the planet, you also contribute to less”

    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. “Customer psychology. The kids, not the kid, well, you're not the kid, but the people in your generation are younger. They really have a lot more self-confidence. They really wanted to wear their expression on their sleeves. Whatever the form it is, whatever belief it is, they are not afraid of expressing it. And they're very good at that. So the fashion statement itself is becoming very diversified. It's no longer just listen to a few designers say, okay, this is what you should wear. They wanted to have their own say in 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

  9. “In almost everything I have done in a capitalistic world in America, there's a clear distinction between doing good and doing well. And I kind of believe that you have to do well enough. And then you started to do good. Do not mix the two too early and too mixed up. And if you look at Shin's business model, yes, we try to do well. But the definition of doing well, you must do good first. Let me explain to you what I mean by that. In our business, everybody says that the customers are the most important thing. What do you really do with their philosophy? It's very different. Retail business is such a business that is connected with the customers the most. But yet very few of us actually listen to what customers want. And we have observed that there is a significant wholesale change of”

    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. “Hard to answer that question because in the different stage of life it's different. The answers ought to be different. In a way, luck is always most important thing. I'm a fatalist and I believe in fate of believing luck. But if you wanted to do better than your own luck and your own fate, you have to work hard. You have to be appear to be full of confidence and actually do have full of confidence, but not to go too far to get into arrogant mode of yourself. So all these things are dynamic. There's no one answer to 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

  11. “At your daily life, you'll complain about how boring and mundane it is. But that's how life is. Not every day is a home run day. Not every day is exciting. Most of the days are kind of boring. But if we believe in competitive world, every day, you know, everybody's day is similar. My mentor was a champion in Bridge. You know, he's the smartest guy in the world in my dictionary.”

    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. “Right. You know, when you have a chip on your shoulder, that's not a good thing Depending on what job you want as a venture capitalist, yes, as an entrepreneur, perhaps. But if you are applying for engineer's job, you want a job at the time, I was lucky enough to have a mentor who taught me everything and who I can actually go back to saying, how should I look at this? What should I do? I was mentored not only one, but a couple of them told me what to do and share the life experiences and the collaboration, the Trina era, and if I made mistake and I was forgiven and continue to be on that journey to do better. So taught me how to make constant improvement every single time when you look back in last minute, last day, last an hour. So these are lifelong lessons and I was taught about how you are going to figure out some ways to know that every day is a good day. And when you are”

    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. “The definition of successful, your situation dependent on personal. It's very personal. For me, I just wanted to be with a girl I love. That was success. If I can survive and continue on that path, that's great. I never really thought about making money or anything else. Oh, it's the same. Every day you live your life happily. That's a success. I don't need a lot. My wife had a good job. I had a restaurant job. And then after I graduated as a chemical engineer, I couldn't find the job. So therefore, I didn't find the job because I quit my restaurant job. And I interviewed for a job 58 times was turning down, turning down every single time. And I knew the reason why now, but at that time it was devastating. If you actually thought you were better than the person who's interviewing you, it shows.”

    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. “Well, thank you for having me. Was 17. I was love struck. I came to the United States to chase a girl and I had no place to live. That's the gist of it. So went to a restaurant to beg for a job and succeeded and then washed the dishes and the bus tables and the way down the tables. But I wasn't very good at it because my English was terrible. But I persisted and I continued to climb the ladder to become an assistant manager. So that was my career. It was a pretty good one. It was in Santa Anna and I got shot at. But that trained me to be tough and resilient. But that was one of the early experience or experiences I had.”

    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