By
Reuters
Published
October 8, 2024
Shein‘s British business made GBP1.55 billion ($2.03 billion) in revenue in 2023 and a profit before tax of GBP24.4 million, a filing by the online fast-fashion group showed on Tuesday, as the company prepares for a planned listing in London.
Shein’s rapid growth, fuelled by its low-cost business model of sending parcels to customers worldwide straight from factories in China, has disrupted the budget fashion industry and put pressure on incumbents such as Sweden’s H&M and London-listed Asos and Boohoo.
The 2023 revenue for Shein Distribution UK Limited marked a 38% increase on its previously reported sales of GBP1.122 billion over the 16-month period from September 6 2021 to the end of 2022.
© Thomson Reuters 2024 All rights reserved.
Translated by Nicola Mira Published October 8, 2024 Lectra, a French industrial intelligence solutions specialist active in the fashion, automoti
Translated by Nicola Mira Published October 8, 2024 The Hyères International Fashion, Photography and Accessories Festival will kick off on Thur
By AFP Published October 8, 2024 On Tuesday, French luxury group Kering named Stefano Cantino as CEO of Gucci to revive sales at its troubled flag
Published October 8, 2024 Mytheresa acquired YNAP this week from Richemont, and in return the Swiss-based luxury giant acquired 33% the German-base