Shein’s UK Sales Hit $2 Billion Ahead of Possible London Listing
- Online fashion retailer saw UK revenue surge last year
- Shein is eyeing a UK IPO that could value it at £50 billion
Shein had been considering a US listing but decided to look elsewhere given the intense scrutiny of the company and its Chinese roots.
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Shein’s UK sales soared to £1.55 billion ($2 billion) last year ahead of the online fashion retailer’s potential initial public offering in London.
The company, which was founded in China but is now based in Singapore, saw its British revenue rise 38% in 2023 from a year earlier, according to a filing last week at UK registry Companies House.