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● TRACKER Updated 16d ago · 13 sources tracked

How Shein’s IPO lost its shine

Shein begins trading on the Hong Kong stock market this Tuesday, seeking to raise $1.7 billion at a valuation slightly over $26 billion. This listing follows unsuccessful attempts to enter the New York and London markets. The current valuation represents a steep decline from the nearly $100 billion figure the fast-fashion retailer held four years ago. The move to Hong Kong marks a shift in corporate identity for the company, which previously attempted to distance itself from its Chinese roots by relocating its headquarters to Singapore in late 2021.

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  • ✓ Shein is targeting a Hong Kong IPO at a valuation of just over $26 billion.
  • ✓ The company seeks to raise $1.7 billion through the offering.
  • ✓ Shein previously attempted to go public in New York and London.
  • ✓ The company moved its headquarters to Singapore in late 2021.
🛡️ Source Corroboration: 13 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

Shein's target valuation has been refined to just over $26 billion, down from previous estimates of almost $27 billion.

Live updates

  1. Shein targets Hong Kong debut as valuation drops from $100 billion peak

    Shein begins trading on the Hong Kong stock market this Tuesday, seeking to raise $1.7 billion at a valuation slightly over $26 billion. This listing follows unsuccessful attempts to enter the New York and London markets. The current valuation represents a steep decline from the nearly $100 billion figure the fast-fashion retailer held four years ago. The move to Hong Kong marks a shift in corporate identity for the company, which previously attempted to distance itself from its Chinese roots by relocating its headquarters to Singapore in late 2021.

    Why it matters

    The retailer grew rapidly during the pandemic by selling low-cost goods to American consumers. It now faces growth struggles and sustainability challenges. The shift to a Hong Kong listing indicates a reconciliation with its identity as a Chinese company.

    What is confirmed

    • Shein is targeting a Hong Kong IPO at a valuation of just over $26 billion.
    • The company seeks to raise $1.7 billion through the offering.
    • Shein previously attempted to go public in New York and London.
    • The company moved its headquarters to Singapore in late 2021.

    Still unconfirmed

    • Shein commanded a valuation of nearly $100 billion four years ago.
    • The IPO is scheduled to begin trading on Tuesday.

    What to watch next

    • The official opening share price on the Hong Kong stock market
    • Investor reaction to the company's sustainability disclosures
    • Confirmation of the total capital raised after the offering closes
    Sources used for this update (4)
    1. markets.ft.com — Space Exploration Technologies Corp
    2. www.outlookbusiness.com — Shein’s $100 Billion Valuation Meltdown: Fast-Fashion Giant Eyes $26 Billion IPO
    3. finance.yahoo.com — How Shein had to make peace with China to finally go public
    4. au.finance.yahoo.com — Three things to watch this week: Shein IPO; AU GDP; Broadcom earnings
    confidence 90%

  2. Shein Targets September 1 Hong Kong IPO with $27 Billion Valuation

    Shein plans to debut on the Hong Kong stock market on 1 September, aiming for a valuation of almost $27 billion. The company seeks to raise up to $1.77 billion through the offering. This listing follows failed attempts to go public in London and New York. While the retailer grew rapidly during the pandemic by selling low-cost goods to American consumers, it now faces growth struggles and persistent sustainability challenges ahead of its market entry.

    Why it matters

    Founded in 2008 as a wedding dress business, Shein scaled into a fast-fashion giant using a model of low-priced goods and tariff exemptions. The company's current valuation is a fraction of the $100 billion value reported in 2022.

    What is confirmed

    • Shein is planning a stock market debut in Hong Kong on 1 September.
    • The company aims for a valuation of almost $27 billion.
    • Shein looks to raise up to $1.77 billion in its Hong Kong offering.
    • The company previously made unsuccessful attempts to go public in New York and London.

    Still unconfirmed

    • Shein was valued at $100 billion following a funding round of $1-2 billion in 2022.
    • The company started as a wedding dress business in 2008.

    What to watch next

    • The official results of the 1 September stock market debut
    • Investor reaction to the $27 billion valuation
    • Updates on the company's sustainability challenges
    Sources used for this update (10)
    1. The New York Times — Shein, a Fast-Fashion Giant, Struggles to Grow Ahead of a Much-Delayed IPO
    2. WSJ — Shein Looks to Raise Up to $1.77 Billion in Long-Awaited Hong Kong Offering
    3. BBC — Shein aims for almost $27bn valuation in 1 September stock market debut
    4. Financial Times — How Shein’s IPO lost its shine
    5. The Economist — How Shein came crashing down
    6. Financial Times — Shein’s IPO pitch should be more Meta than H&M
    7. Reuters — Focus: Shein's stock market listing will not mask sustainability challenges
    8. Gizmodo — Shein’s IPO Plans Value It at About $27 Billion. That’s Shockingly Low
    9. gizmodo.com — Shein’s IPO Plans Value It at About $27 Billion. That’s Shockingly Low
    10. www.law.com — Skadden, King & Wood, Maples, Lead Shein’s Long-Awaited $1.8B Hong Kong IPO
    confidence 90%
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