Shein, a fast-fashion giant, has partnered with the Mexican fintech startup Stori to launch a co-branded credit card in Mexico. This new credit card offers interest-free installment payment options for purchases on Shein and rewards users with loyalty points. It comes with no annual fees, appealing to a wide range of customers, particularly those new to credit. Stori, which aims to enhance financial inclusion in Latin America, has already garnered over 3 million clients and achieved unicorn status. The partnership reflects Shein's expansion strategy into financial products while leveraging Stori’s expertise in serving underbanked consumers.
- The partnership is part of Shein's broader effort to diversify its offerings beyond fashion and into financial services, aligning with its global expansion strategy.
- Stori’s focus on financial inclusion, particularly in reaching Mexico’s underbanked population, makes the partnership significant in addressing gaps in financial access across the region.
- The lack of annual fees and the installment payment option are strategic moves to attract first-time credit users, further driving customer loyalty and expanding Shein's customer base in Mexico
