SHEIN Taps Former Softbank Exec for LATAM Expansion

China’s fashion and supply chain technology vendor SHEIN has tapped former Softbank executive Marcelo Claure as a major player in its Latin American expansion plan.

A Bolivia-born investment guru, Claure will help establish an advisory board to identify investment opportunities in companies that are already in Latin America or are looking to expand into the region.

“As a person who is passionate about Latin America and will be focused intently on investing there moving forward, this is a unique opportunity for me,” Claure said in a press release.

“In Latin America, countries like Mexico and Brazil are at a stage of development where nearshoring, with the help of SHEIN’s supply chain technology, can enable local supply chains to flourish.”

Claure led Softbank’s Latin American fund for nearly five years, a time in which the Japanese conglomerate invested millions of dollars in dozens of startups across of region. In early 2022, he left Softbank amid a pay dispute and started his own investment firm, the Claure Group.

According to Shein, Claure agreed to a US$100 million investment in the company as part of leading its operations in the region.

SHEIN, whose market value recently surpassed US$30 billion, is no stranger to Latin America. Brazil alone accounts for 4% of its sales.

The majority of its products are manufactured in the province of Guangdong, the industrial heartland of China. A tie-up with Claure could see SHEIN set up a string of factories across Latin America, particularly in Mexico.