The authors thank department editor Jay Swaminathan, an anonymous associate editor, and three anonymous reviewers for their constructive comments and suggestions. The authors are also grateful to Leon Zhu for sharing his Cheung Kong Graduate School of Business case about Shein. Thanks also go to seminar participants at Stanford University, Berkeley Haas, Queen’s University, University of Toronto, University at Buffalo, University of Illinois Urbana Champaign, Harvard Business School, University of Miami, Tsinghua University, China Europe International Business School, Xi’an Jiaotong-Liverpool University, Georgetown University, George Mason University, Syracuse University, La Trobe University, and the INFORMS annual meetings for their helpful feedback.