Shein’s market share rise to 2.2% due to high sales in the UK

It is the 14th largest apparel retailer in 2022, with a 1.7% market share.

Shein’s market share increased to 2.2% in 2023 as its brand awareness has grown and inflation-hit consumers demand more affordable clothing, GlobalData said.

Its revenues are coming to light as new UK accounts showed that it garnered  £1,121b in sales  from the end of October to December 2022

Louise Deglise-Favre, Apparel Analyst at GlobalData, said “Shein’s potential acquisition of fellow fast-fashion brand Missguided from Frasers Group would also allow it to become even more dominant in the UK market in the future.”

It opened a pop-up store on Oxford Street for London Fashion Week from the 15th to the 17th of September, which was hugely successful with lengthy queues to enter the store. The shop engaged with customers built awareness further and tested physical retail before potentially committing to any permanent locations.