Asia Tech Wire (Oct 11) -- Shein, a Chinese-founded fast-fashion e-commerce platform, reached sales of 1.55 billion pounds ($2 billion) in the UK market in 2023, up 38% from 2022, according to Bloomberg.

Shein is currently planning a London listing, with a valuation of around 50 billion pounds.

Shein's business has grown rapidly thanks to its low-cost business model of shipping directly from its Chinese factories to customers around the world, according to the report.

Last year Shein continued to expand its UK business, such as opening pop-up shops across the UK and an office in Manchester.