Shein just went public at about 25% of its peak valuation
Fast fashion retailer Shein has officially gone public on the Hong Kong stock exchange at a valuation of $26.3 billion. This IPO price represents a significant drop from the company's $100 billion private valuation in 2022.
Why it matters
The massive valuation decline highlights the cooling of the fast fashion market and the impact of regulatory challenges, such as the closure of US trade loopholes.
Fast fashion behemoth Shein went public on Tuesday. Cheng Xin/Getty Images Shein went public on Tuesday at a fraction of its peak valuation. The company offered 280 million shares at the price of 48.56 Hong Kong dollars, or $6.19. Its valuation ahead of the IPO was $26.3 billion, down from its $100 billion private valuation in 2022. After months of delays, fast fashion behemoth Shein went public on Tuesday at a fraction of its peak valuation. On Monday, the Singapore-headquartered retailer priced its IPO at 48.56 Hong Kong dollars, or $6.19, per share, offering about 280 million shares. It raised more than HK$13.2 billion in the IPO. Its valuation at the IPO price was $26.3 billion, down from its $100 billion private valuation in 2022, according to a Wall Street Journal report in April 2022.
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