Shein UK posts revenue and profit increase in 2024

Based on the financial statements filed with the Companies House, for the year ended December 31, 2024, Shein Distribution UK Limited reported a significant increase in revenue and profit. The company's revenue grew to 2 billion ponds, while its profit for the year rose to 28.6 million pounds compared to the previous year.

The company's gross profit more than doubled to 67.7 million pounds, reflecting strong sales performance. However, the company did not declare any dividends for the year.

The company, which is the UK subsidiary of the Shein Group, is primarily involved in the online sales of fashion apparel and accessories. During 2024, key milestones included the opening of a pop-up shop in Liverpool, a Christmas bus tour, and the establishment of two new offices in Kingscross and Manchester. The company's workforce grew from 33 employees in 2023 to 91 in 2024, primarily for marketing expertise.

The strategic report highlights that the company's net assets at the end of the year were 57.7 million pounds. The report also outlines key business risks, including potential supply chain delays, pricing volatility due to exchange rates, IT system instability, and market fluctuations caused by uncertain economic conditions.