Average price of a dress on Shein jumps by 28 in U.S.
Price hikes aimed at boosting revenue and profit
Higher prices also driven by external brands like Skechers

LONDON, June 13 Reuters Fast fashion retailer Shein, known for its Chinamade 5 tops and 10 dresses, has hiked prices by over a third on some core products, in a move likely to boost revenues ahead of its planned IPO, according to an analysis of its pricing strategy.

Shein39;s average price hikes exceeded those of its rivals HM and Zara, according to data from Londonbased research firm EDITED, which compared prices on June 1 with a year earlier.

Shein declined to comment.

The company operates an online marketplace selling an array of merchandise, though its main business is making and selling Shein39;s own brands, primarily women39;s clothing.

Shein taps a network of largely Chinabased suppliers, which buck traditional manufacturing processes by taking small initial orders and scaling up based on demand. Most of the clothing Shein sells is made in Guangzhou, China, by its roughly 5,400 suppliers.

Though Shein doesn39;t disclose financial data publicly, Coresight Research estimates that Shein39;s revenue will reach 50 billion this year, a 55 jump over last year39;s figure.

Making its core women39;s clothing lines more expensive and getting more outside brands to sell on its site can help Shein to hit that sales figure and boost profits.

Shein has seen very strong momentum recently, which could play…