INFINITE STYLES ECOMMERCE CO REPORTS 2023 GROSS PROFIT OF 314 MLN EUROS, UP FROM 172 MLN EUROS IN 2022
LONDON, Nov 4 (Reuters) -Shein's Ireland-registered entity Infinite Styles Ecommerce Co saw sales grow by 68% in 2023, hitting 7.684 billion euros ($8.36 billion), up from 4.582 billion euros in 2022, according to annual results filed on Monday.
After-tax profit for the group also more than doubled to 99.5 million euros up from 45.8 million euros in 2022.
A Shein spokesperson did not immediately reply to Reuters' question about how many countries were covered by Infinite Styles' sales figures.
The company has subsidiaries in Belgium, France, Germany, Italy, and Poland, according to the filing.
Fast-fashion retailer Shein has seen rapid growth in Europe and the UK and is working towards an initial public offering in London.
($1 = 0.9189 euros)
Reporting by Helen Reid; Editing by Jan Harvey
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