Fast fashion giant Shein valued at up to US$27 billion in Hong Kong IPO
Fast-fashion retailer Shein is launching a Hong Kong IPO with a valuation of approximately $27 billion, a significant drop from its $98.2 billion peak in 2022. The company faces investor skepticism regarding its growth trajectory and rising operational costs.
Why it matters
The sharp decline in valuation reflects shifting market sentiment toward fast-fashion business models and broader economic cooling in the retail sector.
The valuation has dropped sharply from earlier private fundraising rounds that valued Shein at US$98.2 billion in 2022.
Clothes from fast-fashion brand Shein hang at their office in Sao Paulo, Brazil, on Dec 15, 2025. (File photo: Reuters/Jorge Silva)
HONG KONG: Online fast-fashion retailer Shein's valuation has dropped by around 70 per cent from a near US$100 billion private market peak four years ago, as it aims to raise up to HK$13.86 billion (US$1.77 billion) in its Hong Kong IPO launched on Monday (Aug 24).
Shein is selling 280 million shares between HK$47.60 and HK$49.50 per share, the filings showed, valuing it at close to US$27 billion at the top of that range.
The valuation has dropped sharply from earlier private fundraising rounds that valued Shein at US$98.2 billion in 2022. The company was valued at US$64 billion in 2023 and April 2024.
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