Fast-fashion giant Shein shrinks value to up to $27bn in Hong Kong IPO
Shein aims to raise up to $1.8bn in a Hong Kong IPO that values the fast-fashion retailer roughly 70% below its private-market peak four years ago, with a slower growth outlook set to weigh on investo...
Shein, the fast-fashion giant, has dramatically reduced its IPO valuation to around $27 billion, nearly 70% lower than its peak private-market value four years ago. The Hong Kong listing, postponed multiple times, comes amid intensifying competition from rival Temu, rising costs, and tariffs, which are weighing on Shein's growth prospects.
The drop in valuation reflects a shift in investor interest, as public investors no longer value hyper-growth. Analysts predict Shein's fundraising efforts may be dampened by slowing revenue growth and weaker margins due to new European import charges, pricing pressures, and weaker demand in the Middle East. Co-founders Sky Yangtian Xu, Maggie Gu, Molly Miao, and Tony Ren will retain 90% of Shein's voting rights, while the IPO will take place on September 1 with cornerstones Boyu, Tiger Global, and General Atlantic leading the subscription.
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