A consumer carries a bag with promotional merchandise whereas visiting style retailer Shein’s Christmas bus tour, in Manchester, Britain, December 13, 2024.
Temilade Adelaja | Reuters
Shein’s U.Okay. arm generated £2.05 billion ($2.77 billion) in gross sales in 2024, up 32.3% from 2023, in response to a submitting launched on Friday.
The net fast-fashion retailer’s pre-tax revenue rose to £38.25 million in 2024 from £24.43 million in 2023.
The corporate highlighted a number of milestones throughout the yr, together with the opening of recent places of work in King’s Cross and Manchester, a pop-up store in Liverpool and a Christmas bus tour throughout 12 U.Okay. cities.
Shein flagged dangers reminiscent of potential provide chain delays, increased prices from foreign money fluctuations and freight prices, IT system outages, and shifting UK laws that might require it to change or withdraw merchandise.
The Chinese language firm, which is headquartered in Singapore, additionally famous that weaker client confidence from increased inflation and residing prices may weigh on gross sales.
Shein confidentially filed for an preliminary public providing in Hong Kong earlier this yr, a transfer aimed toward pressuring U.Okay. regulators and dashing up its long-delayed itemizing plans.
Earlier than this, the quick style big filed to record in London however has struggled to obtain regulatory approval earlier than shifting its focus to Hong Kong.
