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HONG KONG: Global fast-fashion retailer Shein is seeking a valuation of between $30 billion and $40 billion for its planned initial public offering (IPO) in Hong Kong, with the listing expected to launch as early as mid-to-late August, according to sources familiar with the matter.
The Singapore-headquartered company, founded in China, has already begun pre-deal meetings with prospective investors. However, the proposed valuation and IPO timetable remain subject to change depending on investor feedback during the marketing process.
The targeted valuation represents a significant decline from Shein’s previous private valuations, which peaked at $98.2 billion in 2022 before falling to $64 billion in fundraising rounds conducted in 2023 and 2024. The lower valuation reflects mounting business challenges, including slowing sales growth, increased regulatory scrutiny, and changes to U.S. trade policies.
Last month, Shein disclosed in its draft IPO prospectus that it recorded a $99 million quarterly loss, attributing the setback to weaker sales following the removal of the U.S. import duty exemption for low-value packages and a substantial one-time accounting charge.
The company received approval from the China Securities Regulatory Commission (CSRC) on July 10 to proceed with its Hong Kong listing, paving the way for a public offering after previous attempts to list in New York and London failed to materialize.
Shein has not officially disclosed the size of the offering, the final offer price, or the listing schedule, and did not immediately comment on the latest reports regarding its IPO plans. Investors are expected to closely assess the company’s financial performance and growth prospects as it prepares for one of the most closely watched public listings in the global retail sector this year.
