Shein Distribution UK Limited recorded a significant increase in sales and profits for the financial year on December 31, 2024. This emerges from the end of the year, which was submitted to the Companies House.
The turnover of the British daughter of the Ultra-Fast Fashion company Shein rose to £ 2 billion (£ 2.46 billion). The annual profit rose to £ 28.6 million (35.1 million euros) compared to the previous year.
The company’s gross profit has more than doubled to 67.7 million British pounds (83 million euros). This reflects strong sales development. However, the company has not distributed dividends for the year.
The most important milestones in 2024 included the opening of a pop-up store 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 a year later, mainly in the marketing sector.
The report emphasizes that the company’s net assets were £ 57.7 million at the end of the year (70.8 million euros). The report also outlines the most important business risks. These include potential delays in the supply chain, price fluctuations due to exchange rates, instability of the IT system and market fluctuations caused by uncertain economic conditions.
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