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Fast fashion retailer Shein's UK sales surged to $2.8 billion in 2024
Shein's pre-tax profit rose to £38.25 million in 2024 amid expansion efforts including new offices, pop-up shops, and a Christmas bus tour across 12 U.K. cities.
- Shein's UK arm generated £2.05 billion in sales and a pre-tax profit of £38.25 million in 2024, showing significant growth.
- The growth followed increased demand amid inflation and cost-of-living rises, while the company expanded via new offices and a Christmas bus tour.
- Shein operates with low prices, heavy promotions, and product diversification, taking market share from rivals like ASOS and H&M in the UK.
- Shein faces regulatory and political pressures, including a UK review of low-value import duty exemptions and difficulty securing listing approval in London.
- The company shifted its IPO focus to Hong Kong and warned higher inflation and regulatory changes could affect future sales and operations.
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Online retailer Shein’s UK revenue grew 32% in 2024
LONDON (Reuters) -Shein’s British business made 2.05 billion pounds ($2.77 billion) in sales in 2024, a 32.3% increase from the previous year, a filing by the online fast-fashion retailer showed early on Friday. Shein does not report global results publicly, but the filing sheds light on its growth in Britain, its third-biggest market after the United States and Germany, as the company works toward an initial public offering in Hong Kong. Founde…
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Total News Sources17
Leaning Left2Leaning Right0Center8Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
L 20%
C 80%
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