Shein valued at US$22 billion to US$25 billion ahead of IPO, Bloomberg Intelligence says
The estimate is below the roughly US$30 billion valuation some investors have pushed for.
Shein's valuation for its upcoming IPO ranges from US$22 billion to US$25 billion, according to Bloomberg Intelligence. This puts the fast-fashion retailer in the 13 to 15 times projected 2027 earnings bracket, using 2027 as a normalized base after taking into account freight and tariff shocks that impacted its 2026 results. Catherine Lim and Jason Zhu, consumer and technology analysts, believe Shein's earnings will recover to US$1.67 billion in 2027, with annual growth of about 20 percent through 2029.
The valuation assumes a normalized growth and earnings outlook starting in 2027, rather than a depressed 2026 baseline. Shein's position lies between a China-linked e-commerce platform and a global fast-fashion retailer with a flexible supply chain. The company's valuation is lower than some investors' preferred US$30 billion mark and less than half of its peak valuation of US$66 billion in a 2023 funding round.
The figure is also below Shein's US$100 billion valuation in 2022. Shein disclosed slowing revenue growth and profitability in July, and now aims for a US$30 billion to US$40 billion valuation, which would place the company at a premium compared to global e-commerce and fast-fashion peers and China-linked platforms. The company's supply chain is concentrated in mainland China, while most earnings are generated overseas, exposing it to shipping costs, tariffs, and regulatory requirements.
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