The British subsidiary Shein Distribution UK Limited of the China-based fast fashion provider Shein Group reports sales of 1.12 billion pounds (around 1.29 billion euros) for the sixteen-month financial period from September 6, 2021 to December 31, 2022. The profit amounted to 9.8 million pounds (around 11.3 million euros).
The London-based company’s revenue came solely from the sale of fashion and accessories via the Shein platform within the United Kingdom. In total, the financial report names 14 employees in London during the period mentioned, who work primarily in the marketing area.
The financial report follows a report last week that Shein may buy British fast fashion brand Missguided from Frasers Group.
Shein and Frasers have been in “detailed negotiations” about a possible sale, Sky News reported. However, the news portal added that neither the outcome of the deal nor the time frame for its possible completion are clear.