Shein reportedly seeks investors at valuation below $30 billion for IPO

Shein's advisors are currently engaging with potential investors, according to a Financial Times report on Monday. The sources cited in the report indicate that the company's valuation is currently under $30 billion. This represents a significant drop from the $100 billion valuation Shein achieved following a private funding round in 2022.

The online fast-fashion retailer has set an internal valuation target of $30 billion. It will likely be necessary for the company to seek input from existing investors before proceeding with an initial public offering at a lower price point, the report suggests. Shein's manufacturing operations are based in China, while its corporate headquarters are located in Singapore.

One challenge Shein may encounter is attracting major Chinese institutional investors to participate in the IPO, as noted in the report. Earlier this week, Reuters reported that the company is aiming for a Hong Kong IPO valuation range of $30 billion to $40 billion. This IPO could potentially launch as early as mid-August.