Shein has set a price range for a Hong Kong IPO that could raise up to HK$13.86 billion (US$1.77 billion) and value the fast-fashion retailer at almost US$27 billion. Trading is planned for 1 September. 🛍️
The proposed valuation is far below the roughly US$98 billion private-market valuation Shein reached in 2022, according to BBC News and Reuters reporting.
The company sells low-priced goods online through a supplier network that produces small initial batches and scales items that show demand. Its cross-border delivery model has also made trade rules and tariffs important to its costs.
Shein faces regulatory scrutiny in Europe, where it is designated a Very Large Online Platform under the Digital Services Act. European consumer authorities also notified the company in 2025 of practices they considered infringements of EU consumer law. ⚖️
The flotation would set a public-market benchmark after earlier listing efforts in the United States and London did not result in an offering. The proposed terms remain subject to the completion of the listing process.