In 2024, Shein experienced significant growth in the UK, with a revenue increase of over 30% and a profit rise of more than 56% compared to 2023. The company reported UK revenues of £2.046 billion and profits of £38.3 million, with substantial growth demonstrated by nearly tripling its workforce from 33 to 91 employees. Shein is preparing for a London IPO, having secured approval from the UK financial conduct authority for its prospectus, although it faced challenges with a prior Hong Kong IPO application.
Shein posted UK revenues of £2.046 billion in 2024, a 32% increase from 2023's revenues of £1.550 billion, showcasing impressive revenue growth.
In 2024, Shein's profits increased by 56.6%, rising from £24.4 million in 2023 to £38.3 million, demonstrating significant profit growth in the UK.
The company's workforce expanded dramatically in 2024, increasing from 33 employees at the end of 2023 to 91, highlighting its growth trajectory in the UK market.
Shein is targeting a London IPO after submitting a prospectus approved by the UK financial conduct authority, despite a setback from the China Securities Regulatory Commission.
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