Shein UK sales surge 32% to record £2 billion

Chinese fast-fashion retailer Shein reported record UK sales of £2.05 billion for 2024, representing a 32.3 percent increase from the previous year despite mounting regulatory pressures and market challenges affecting the broader retail sector.

The company’s UK division filed accounts at Companies House showing robust growth as British consumers continued purchasing low-priced Chinese-manufactured clothing and accessories through the platform. The performance positions Shein as an increasingly dominant force in the UK fashion market, potentially threatening traditional retailers including struggling competitors like Asos.

Industry analysts noted the growth occurred against a backdrop of significant headwinds facing technology and retail companies. Claire’s UK business entered administration this week, putting 2,150 jobs at risk, while other retailers struggle with changing consumer spending patterns and economic uncertainty.

The surge in Shein’s UK revenue comes as the government examines potential regulatory changes affecting international e-commerce platforms. Earlier this year, companies faced increased scrutiny over labour practices, environmental impact and tax obligations, though these concerns have not materially affected consumer demand for the platform’s products.

Fashion industry observers highlighted the contrast between Shein’s performance and challenges facing established UK retailers. Several major chains have announced store closures and restructuring programs as they adapt to shifting consumer preferences toward online shopping and value-oriented purchasing decisions.

The company’s success reflects broader changes in British consumer behaviour, with younger demographics increasingly prioritising affordable fashion options over traditional brand loyalty. However, sustainability advocates continue raising concerns about the environmental impact of fast fashion business models and their long term effects on the UK retail business