Infinity Styles Ecommerce, Shein’s European business entity, registered in Ireland, has posted sales of €7.684 billion for full-year 2023, according to Reuters. This represents a year-on-year rise of 68 percent.
Net income amounted to €99.5 million, up 117.2 percent from the €45.8 million of FY22. The company’s tax amounted to €18.4 million, up 217.2 percent from €5.8 million. Gross profit was €314 million, up 82.5 percent from €172 million.
On its filing with the Irish government Infinite Styles lists subsidiaries in Belgium, France, Germany, Italy and Poland, but it is unclear what other European countries the financial figures cover.
The company’s payroll reached €5.5 million in FY23 for a staff of 24.
In October Shein reported sales of £1.55 billion (€1.86bn) in the UK for FY23. According to Reuters, the UK is the company’s third-largest market, after the US and Germany.
