Shein Groups' UK business has reported revenue of £1.55 billion for last year as the online fashion group gears up for a potential float on the London Stock Exchange.
This marked an increase from £1.12 billion over a 16-month period previously, Shein’s second set of results for its UK business showed, as pre-tax profit more than doubled to £24.4 million.
Singapore-based Shein, which was founded in China, has eyed a listing in the UK after regulatory woes saw initial plans late last year to float in New York ditched.
The company has come under fire from rivals such as Superdry in the UK though, over a legal loophole which sees it not required to pay tax on low-value parcels shipped directly to customers.
Shein's rapid growth in the UK since being set up around a decade ago, which has seen pop-up shops opened and an office set up in Manchester this year, means it is now one of the country's largest e-commerce firms.