SoftBank Ex-COO to Lead Chinese Phenom Shein in Latin America

Shein has cornered an estimated 40% of the fast-fashion industry in the U.S. Photo: Bloomberg

(Bloomberg) — Online retailer Shein has named former SoftBank Group Corp. executive Marcelo Claure to help run its Latin American business, a signature hire that could accelerate a global expansion by one of the world’s most valuable startups.

Claure, once a lieutenant to SoftBank founder Masayoshi Son, will lead the region’s operations, according to a statement Tuesday. The former SoftBank chief operating officer will also make a $100 million personal investment in the company.