Shein reported £1.55 billion (US$2 billion) in revenue from its British operations in 2023, marking a 38% increase over its previous earnings.

This growth positions the UK as Shein’s third-largest market, following the United States and Germany.

The figures also show a significant increase in pre-tax profit, which doubled to £24.4 million (almost US$32 million) compared to the previous 16-month reporting period.

Shein disclosed that nearly all its UK revenue comes from goods purchased through its Singapore-based parent company, Roadget Business Pte Ltd.

Despite these sales figures, the company has a limited presence in the UK labor market, employing just 33 individuals by the end of 2023.

Estimates indicate that Shein’s global sales may reach US$50 billion by the close of this fiscal year.