Shein posts 38 percent revenue growth ahead of London IPO

Online fast-fashion retailer Shein's business in the UK recorded a pretax profit of 24.4 million pounds in 2023, while revenues for the year reached 1.55 billion pounds, up 38 percent ahead of its listing in London.

A filing by the firm on Companies House said that Shein opened an office in Manchester, northwest England and pop-up stores across Britain, during the year under review. Shein Distribution UK Ltd had earlier reported sales of 1.122 billion pounds over the 16 months from to the end of 2022.

The company had 33 employees during the year to December 31, 2023.

According to the filing, Shein Distribution UK Limited is a fully-owned subsidiary of Roadget Business Pte Ltd, controlled by Elite Depot Limited, a company registered in the Cayman Islands.