Fast fashion giant Shein is set to invest nearly $150 million in Brazil in the coming years to make the country its production hub in Latin America. The company announced the investment on Thursday alongside a goal of having 85% of its sales in Brazil generated by local manufacturers and sellers by the end of 2026. The Singapore-headquartered retailer also noted that it will partner with 2,000 Brazilian textile manufacturers to create 100,000 jobs over the next three years. Shein’s move is a sign of its expansion in the region and is part of its strategy to move some of its supply chains outside of China amid a fast-changing geopolitical environment. [Reuters]