Shein Surges Ahead as H&M Stumbles: A Look at the Mass Market Power Players

Who controls the international mass fashion market? Less than a decade old, Shein has already become the world’s No. 1 player in terms of market share and the player that has gained the most market share over the past year, according to GlobalData. At the other end of the spectrum, H&M is the concept that has gained the most market share over the last twelve months.

According to the market research company, the Asian online operator has gained 1.1 points of international market share between 2024 and 2025, based on figures from December 2025.

Inditex and H&M, the global kings of the sector to date, are next in line. Zara is the second-largest player in the market, although its market share has fallen by 0.3 percentage points in the past year. H&M, meanwhile, is in third place worldwide, down 0.6 points, reflecting the Swedish company’s transition.

Shein becomes the operator with the largest and fastest-growing market share

Primark, the king of low cost, is in fourth position, having reduced its market share by 0.1 points, while Target and Old Navy (the main concept of the U.S. Gap group) follow in fifth and sixth position. Target has lost 0.3 points and Old Navy has stagnated.

Despite the loss of relevance and the restructuring it has been undergoing for several years now, C&A is positioned as the seventh largest mass market company, with a 0.2 point drop in market share over the past year.

Mango, which has gained 0.1 points in international market share in the last year, thanks in part to its expansion in the United States,has broken into the international ranking. Gap and Walmart follow Mango, stagnating compared to twelve months earlier.

GlobalData calculates the market shares of the world’s leading players by taking into account the brands’ revenue for the year and their share of the global market. For 2025, the market analysis firm has made an estimate for December.