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TV star Shaughna Phillips, Shein’s UK sales reached £1.55bn compared to £1.12bn over a 16-month period the previous year.
Sales at Shein’s UK subsidiary surpassed £1.5bn last year, ahead of what looks set to be a controversial London listing.
The Chinese online giant’s meteoric popularity showed no signs of slowing, according to accounts published for the 12 months to December 31. Shein Distribution UK Limited recorded sales reaching £1.55 billion compared to £1.12 billion over a 16-month period the previous year. while profits doubled to £24.4m.
And it paid £5.7m in tax compared to £2.3m last year. The company, which has 33 employees in the UK, has held pop-up stores across the country and also opened an office in Manchester last year.
Shein has filed paperwork with the City watchdog for a £53bn float, and sources say a listing could be expected as early as this autumn. But it has faced fierce opposition from both human rights groups and business organizations.
There have been concerns about Shein’s supply chain, including accusations of low wages and terrible working conditions.
The British Fashion Council has warned that the planned listing is a “major concern” for the industry. But Shein has insisted it has a “zero tolerance” approach to mistreatment of workers.
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