The annual revenue from the UK, Shein’s third-biggest market, was 38 per cent more than it had previously reported for a 16-month period to the end of 2022. The group’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. Shein Distribution UK previously reported sales of 1.
122 billion pounds over the 16 months from September 6, 2021 to the end of 2022. It did not give a figure for the calendar year 2022..