The UK subsidiary of China-based fashion giant Shein Group generated sales of over 1 billion pounds in the 16 months from September 6 2021 to December 31 2022 as the company continued its international expansion.
The UK division made sales of 1.12 billion pounds and a profit of 9.8 million pounds in the period, according to filings at Companies House.
The financial update comes hot on the heels of a report last week that Shein could buy fast fashion brand Missguided from Frasers Group.
Shein and Frasers have been in “detailed negotiations” over a potential sale, Sky News reported, citing City sources.
However, the news outlet added that the outcome of the deal remains uncertain, and the timing of its completion, if it does go through, is also unclear.