Shein's British operations recorded a significant financial uptick in 2023, amassing a revenue of 1.55 billion pounds, with a profit before tax standing at 24.4 million pounds, according to a recent filing by the company.
The online fast-fashion retailer is making strides towards a planned market listing in London, indicating its robust expansion within the industry. Notably, Shein's business model, which emphasizes low-cost direct shipping from China, has disrupted the budget fashion sector, intensifying competition for established players like Sweden's H&M as well as Asos and Boohoo in London. (With inputs from agencies.
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