Shein has appointed former SoftBank executive Marcelo Claure to oversee its Latin America business as the fast fashion firm expands into the region. Claure has also invested $100 million in Shein, according to a statement by the company. The retailer’s appointment of Claure, who is set to take charge of the company’s strategy and operations in the region, is part of its quest to reach more suppliers and cooperation partners, especially in Brazil and Mexico, the Wall Street Journal cited a source as saying on Wednesday. Shein reached $30 billion GMV in 2022, the outlet reported, with the Brazilian market accounting for 4% of that total. [Shein statement; WSJ]

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