Two 59%+ winners, four above 25% in Aug – How this AI model keeps picking winners
Investing.com -- The British unit of the Shein Group posted £2.05 billion in revenue and £28.6 million in profit in 2024, according to the company’s recent filing with Companies House, the United Kingdom’s official registry of businesses.
The company, formally known as SHEIN Distribution UK Limited, said its primary activities during the year involved selling fashion apparel and accessories in the United Kingdom through its online platforms.
The filing outlined several milestones for the year, including a pop-up shop in Liverpool and a Christmas bus tour that visited 12 cities. The company also opened new offices in Kings Cross and Manchester.
Net assets at the end of 2024 totaled £57.7 million, including £14 million in cash and cash equivalents. The company reported an intra-group liability of £1 million.
SHEIN Distribution UK Limited employed 91 people in 2024, primarily in marketing roles for the UK market.
The workforce included 23 males and 68 females. As of Dec. 31, the company had two directors, both female, and five female senior managers. No senior managers were male.
The filing also reported a decrease in total gross emissions from 32.73 tCO₂e in 2023 to 23.30 tCO₂e in 2024.
The company said the drop resulted from reduced emissions from purchased electricity, offsetting an increase in emissions from business travel.
The fast fashion said it faces several principal risks and uncertainties that could affect operations.
These include potential supply chain delays in procuring products and transporting them from suppliers to customers.
Pricing could also be influenced by fluctuations in exchange rates, changes in freight costs, and price increases from suppliers, potentially raising the cost of sales.
The company’s reliance on its online platform makes it susceptible to IT system or infrastructure disruptions that could prevent customers from placing or completing orders.
In addition, market volatility and economic pressures, such as higher inflation and rising living costs, could influence consumer purchasing habits, the Singapore headquartered company said.
The filing also noted that changes in United Kingdom laws or regulations could require the removal of certain goods from the platform to maintain compliance.
Shein submitted a confidential application for an initial public offering in Hong Kong earlier this year, a step intended to push U.K. regulators and accelerate its long-stalled listing efforts.
The retailer had previously sought a London listing but faced difficulties securing regulatory clearance, prompting it to redirect its attention to Hong Kong.