Shein shares slide on fast-fashion retailer’s stock market debut
Fast-fashion retailer Shein saw its shares drop by 10% during its Hong Kong stock market debut, valuing the company at approximately $26 billion. The decline follows regulatory hurdles in the US and UK regarding supply chain practices and forced labor concerns.
Why it matters
The lackluster IPO reflects growing global regulatory scrutiny over the business models of ultra-fast fashion companies and their supply chain transparency.
Shein company executives and employees at the listing ceremony in Hong Kong. Shein company executives and employees at the listing ceremony in Hong Kong. Shein Shein shares slide on fast-fashion retailer’s stock market debut Hong Kong flotation at $26bn by firm once valued at $100bn follows failure to list in US and UK
Prefer the Guardian on Google Shares in the fast-fashion brand Shein slumped by as much as 10% as the China-founded company made its long-anticipated trading debut on the Hong Kong stock exchange.
The Singapore-headquartered company, once valued at almost $100bn (£74bn), went public on Tuesday pricing shares at HK$48.56, valuing the business at just over $26bn.
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