Shein’s UK business posts £1bn sales
This news comes after reports that the company was in talks with Mike Ashley to buy Missguided
Register to get 1 more free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Shein’s UK business has revealed that it reached £1bn in sales for the 16 months ended 31 December 2022.
The company also revealed that it saw a pre-tax profit of £12.2m and a revenue of £1.1bn in its latest filing on Companies House.
Shein also marked a number of milestones in the period including three pop-up stores in London and a collaboration with rapper Stefflon Don.
The fast fashion retailer revealed that it had 14 employees in the period most of which worked in marketing.
The company plans to continue its UK expansion by opening 30 new pop-up stores across the country.
This news comes after reports that the company was in talks with Mike Ashley to buy Missguided.
The deal is “likely” to encompass Missguided’s brand and other intellectual property, with its head office retained by Ashley’s company.
It is understood that the two sides have been in negotiations about a deal for several weeks, which would represent Shein’s first acquisition of a British fashion brand.
