Shein’s UK sales in the United Kingdom rose to $ 2.8 billion in 2024

Written by Helen Reed

LONDON (Reuters) -British business in sales achieved 2.05 billion pounds ($ 2.77 billion) in 2024, an increase of 32.3 % over the previous year.

Shein is not publicly reported, but the deposit sheds light on its growth in Britain, its third largest market after the United States and Germany, as the company is working towards a preliminary general offer in Hong Kong.

Shin was founded in China, based in Singapore, and she spent years in an attempt to include her, first in New York, then in London, but she faced criticism from American and UK politicians and failed to obtain approval from the Chinese securities organizer for public subscription abroad at a time to increase tensions between China and the United States

Shein Distribution UK LTD, Shein Distribution UK LTD International, has reported a racket profit of 38.25 million pounds in 2024, an increase of 56.6 % from 24.4 million pounds in 2023.

In the deposit, Shin highlighted the landmarks of 2024, such as a popup store in Liverpool, a tour of Christmas buses across 12 cities in the UK and two new office openings in Kings Cross and Manchester.

Shein is famous for very reduced prices, runs continuous promotional offers and offers coupons or rewards that encourage shoppers to continue to buy. Shein acquired its market share of retailers such as ASOS and H&M, where the consumer spending force erupted, which led them to search for deals.

SHEIN also expanded its shows beyond the fashion-the UK site sells 7.99 pounds ($ 10.84) and jeans 15 rugs ($ 20.36), as well as everything from games and craft supplies to storage units.

Shen’s business has benefited from customs duties exemptions on low -value e -commerce packages that allow her to send goods directly from factories in China to the doors of shoppers to a large extent.

But this tendency is on its way out, which increases the costs of Sheen – and the prices – especially in the United States, where imports from China are now subject to very slope definitions.

The administration of US President Donald Trump has canceled its exemption from the “minimum” parcels of less than $ 800, and plans to the European Union to remove the waiver of its equivalent duty on electronic parcels less than 150 euros.

Britain is also reviewing its policy on low -value imports after retailers said it will provide online players such as Shein and TEMU an unfair feature.

(I participated in the reports of Helen Reed and Nilutpal Timsina; additional reports by Mrinay Dey