The decline in SHEIN's valuation reflects the phenomenon of involution

After experiencing excessive competition, many enterprises can no longer break through their own limitations, and various industries have fallen into the vicious cycle of "involution". The term "involution" refers to a state where a culture has reached its final form and can no longer develop further, only becoming more and more complex internally. In recent years, "involution" has become a popular term used to describe a situation where a certain field has experienced excessive competition, leading people to become trapped in mutual friction and internal conflicts.

Further Reading: https://bit.ly/3UIPnTO