Shein's UK sales increased by 32.3% in 2024, reaching £2.05bn. Pre-tax profit also surged by 57%, reaching £38.3m, up from £24.4m the previous year. Shein holds a 3.1% share of the UK clothing market, positioning it as the sixth-largest clothing retailer. Its appeal lies in ultra-low prices and a rapidly evolving product range. Analysts suggest Shein could move into the top five UK retailers as consumers seek affordable fashion. Challenges may arise if the UK abolishes the low-value import exemption, significantly raising prices for Shein's products.
Shein's UK sales surged by nearly a third last year to reach £2bn, delivering a major profit boost for the retailer as it tightens its grip on the British clothing market.
Newly filed accounts show sales rose 32.3% to £2.05bn in 2024, with pre-tax profit jumping 57% to £38.3m from £24.4m in 2023.
Shein commands a 3.1% share of the UK clothing and footwear market, up 0.7 percentage points, making it the country's sixth-largest clothing retailer.
The brand's combination of aggressive pricing and trend-led variety allowed it to retain its position as the UK's sixth largest clothing and footwear retailer in 2024.
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