Shein, a global fashion marketplace, announced that it is allocating an additional $85 million over five years to empower Shein's manufacturing supplier community and designers as well as women, young people and the underprivileged, globally.

The initiative, as part of its ESG roadmap, is in addition to the $70 million already committed in April this year. Shein's ESG roadmap, evoluShein, is the company's strategy to address social and environmental challenges and make a positive impact on society.

"At Shein, we aim to empower our different stakeholder communities with the tools, capabilities and funding to improve and change lives, whether in their personal or professional capacity," said Molly Miao, chief operating officer at Shein.

"This fund will support these communities to grow alongside the company, toward a more equitable future," Miao said.