Shein saw sales in the UK surge by almost a third to £2billion last year.
The online fast fashion giant said it made profits of £38.3m in 2024 – 56 per cent higher than the £24.4m haul the year before.
Its cheaply priced clothes have helped entice young shoppers in the face of competition from the likes of Asos and Boohoo. And it has opened offices in London and Manchester, and a temporary shop in Liverpool.
But Shein warned that ‘higher inflation and increased cost of living may affect customer purchasing habits’.
Best foot forward: Shein’s cheaply priced clothes have helped entice young shoppers in the face of competition from the likes of Asos and Boohoo
The group, which was founded in China but is now based in Singapore, has reportedly filed for a listing in Hong Kong.
Shein’s campaign for a listing on the London stock market ran aground amid human rights abuse allegations in its supply chain.
Campaigners have made allegations of slave labour in the Xinjiang region of China.
Beijing has denied any abuses. Shein has said it has ‘zero tolerance’ to abuse in its supply chain.
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