What the H&M lawsuit accuses Shein of
“We have an ongoing copyright infringement lawsuit towards Shein filed in Hong Kong,” an H&M spokesperson stated in a media commentary. “We believe that Shein in multiple cases has infringed on our designs,” added the commentary.
According to a Hong Kong courtroom report, H&M had pointed to “the striking resemblance between the products showing they must have been copied” and the “sheer scale of (Shein’s) unauthorized substantial reproduction of the copyrighted works”.
Not the primary lawsuit for Shein
Incidentally, this isn’t the primary lawsuit confronted by means of Shein for copying designs. Recently, 3 United States-based impartial designers filed proceedings in opposition to the corporate, alleging that it has “grown rich by committing individual infringements… as part of a long and continuous pattern of racketeering.” The designers are Krista Perry, Larissa Martinez and Jay Baron.
Shein’s valuation crowned $100 billion
Recently, there have been experiences that taking a web page from Shein’s playbook, H&M is slashing the associated fee on a few of its tops to as little as $1.70. The value cuts seem to reflect one in all Shein’s core methods: Competing for purchasers by means of providing the bottom costs imaginable. Last yr, Shein scored a $100 billion valuation that made it value greater than H&M and Zara mixed. Though this valuation has fallen to $66 billion since then.