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5d ago

Shein’s UK Sales Surge 32% as Company Moves Toward Hong Kong IPO

Britain’s rapid sales growth has propelled Shein to press ahead with its long-delayed Hong Kong float under tightening trade rules.

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The company’s UK growth was supported by the opening of offices in King’s Cross and Manchester
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Overview

  • Shein Distribution UK Ltd recorded £2.05 billion in 2024 sales, a 32.3% increase, and a 56.6% rise in pre-tax profit to £38.25 million.
  • The UK became Shein’s third-largest market behind the United States and Germany following its strong 2024 performance.
  • Shein expanded its UK presence with new offices in King’s Cross and Manchester, a Liverpool pop-up shop and a 12-city Christmas bus tour.
  • After stalling New York and London listing attempts, the fast-fashion group confidentially filed for a Hong Kong IPO earlier this year and is awaiting Chinese regulator approval.
  • Trade-policy shifts—from U.S. de minimis duty removal to planned EU low-value parcel exemptions and potential UK changes—along with supply-chain risks could squeeze Shein’s low-cost model.