Fast-fashion giant Shein has posted striking growth figures in the UK, highlighting just how significant the market has become for the company as it prepares for its long-awaited London IPO.
According to a regulatory filing published on August 13, 2025, the Singapore-based retailer delivered a 32% jump in annual UK revenues and an even more impressive 56.6% profit increase compared to 2023. The company also nearly tripled its UK headcount in the same period, underscoring its expansion plans.
The filing positions the UK as Shein’s third-largest global market, cementing its role in the company’s international strategy.
Chart 1: UK Revenue Surges Past £2 Billion
In 2024, Shein reported UK revenues of £2.046 billion ($2.78 billion), up from £1.550 billion in 2023. The sharp increase illustrates the growing appetite for Shein’s low-cost, trend-driven fashion among British consumers.
While the UK remains smaller than Shein’s U.S. and European operations, the revenue surge is especially significant given that Shein is actively pursuing a London IPO after its earlier efforts in Hong Kong were stalled.
Chart 2: Profits Climb More Than 55%
Alongside the revenue growth, Shein’s UK profits jumped from £24.4 million in 2023 to £38.3 million in 2024 — a 56.6% increase year-over-year.
The surge in profitability suggests Shein is not only scaling its sales but also successfully leveraging cost efficiencies and localized marketing to strengthen margins in one of its most competitive international markets.
Chart 3: UK Workforce Nearly Triples
Shein also dramatically increased its presence on the ground. The company’s UK employee count grew from 33 in 2023 to 91 in 2024, according to the filing.
The majority of the staff are focused on administrative, sales, and marketing roles, aimed at tailoring Shein’s global fast-fashion model to UK consumer preferences. Of the 91 employees, 23 were men and 68 were women.
This expansion highlights Shein’s commitment to embedding itself in local markets ahead of its IPO push.
IPO Push and Regulatory Headwinds
Shein’s financial disclosures come as the company navigates a complex path toward a public listing. Reports earlier this year indicated that Shein had filed confidentially for a Hong Kong IPO, but its application was blocked by the China Securities Regulatory Commission (CSRC).
Instead, Shein has turned its attention to London, where Reuters reported that UK regulators approved its IPO prospectus in April 2025.
Still, regulatory challenges remain. In May, the European Commission accused Shein of breaching EU law, citing practices such as fake discounts, misleading product labels, and deceptive sustainability claims.
In the U.S., Shein has faced additional hurdles after President Donald Trump eliminated the de minimis loophole, which previously allowed packages under $800 to enter tax-free. As a result, Shein has raised prices in its largest market to offset the impact of tariffs.
