Shein’s UK sales surged by nearly a third last year to reach £2bn, delivering a major profit boost for the Chinese-founded fast-fashion retailer as it tightens its grip on the British clothing market.
Newly filed accounts for Shein Distribution UK Ltd show sales rose 32.3% to £2.05bn in 2024, with pre-tax profit jumping 57% to £38.3m from £24.4m in 2023. The company now commands a 3.1% share of the UK clothing and footwear market, up 0.7 percentage points, making it the country’s sixth-largest clothing retailer.
Shein, which is headquartered in Singapore, has built its appeal around ultra-low prices and an ever-changing range of products, from clothing to kitchenware. Its rapid design-to-delivery model keeps pace with fast-changing trends, a strategy that has proved especially popular among younger shoppers.
Louise Deglise-Favre, senior apparel analyst at GlobalData, said the brand’s combination of aggressive pricing and trend-led variety allowed it to “retain its position as the UK’s sixth largest clothing and footwear retailer” in 2024. She added that Shein could overtake Sports Direct to break into the top five this year as cost-conscious consumers continue to hunt for affordable fashion.
However, that momentum could face headwinds if the UK follows the US in scrapping its “de minimis” exemption for low-value imports — a rule that allows goods worth under £135 to enter without import duties. In the US, where former president Donald Trump removed a similar tax break, Shein has already raised prices.
Critics say the exemption lets low-cost platforms such as Shein and rival Temu undercut British high street retailers. The UK government has launched a review of the policy.
Beyond its e-commerce dominance, Shein has been testing physical retail formats, opening offices in King’s Cross and Manchester last year, hosting a Liverpool pop-up store, and running a Christmas bus tour across 12 UK cities.
The UK division now employs 91 people, most focused on market expertise, with women making up 68 of the workforce and holding two of the firm’s director roles.
Shein has faced mounting scrutiny over working conditions in its supply chain and the environmental impact of its business model. Amnesty International UK’s economic affairs programme director, Peter Frankental, said: “No company doing business in the UK should be allowed to play fast and loose with human rights anywhere in their global supply chains. If the UK believes that labour standards matter, regulations need to be in place to hold companies such as Shein accountable.”
In June 2024, Shein filed initial paperwork towards a potential listing on the London Stock Exchange.
Read more:
Shein’s UK sales hit £2bn as fast-fashion giant eyes Sports Direct’s top-five spot
