Fast fashion giant Shein valued at up to US$27 billion in Hong Kong IPO
HONG KONG: Online fast-fashion retailer Shein's valuation has dropped by around 70 per cent from a near US$100 billion private market peak four years ago, as it aims to raise up to HK$13.86 billion (US$1.77 billion) in its Hong Kong IPO launched on Monday.
Shein, the fast-fashion giant, has set its sights on raising up to HK$13.86 billion (US$1.77 billion) through its Hong Kong IPO, which commenced on Monday. The company's valuation has plummeted by around 70% from its peak private market value of nearly US$100 billion four years ago, now standing at close to US$27 billion. This decline in valuation comes after Shein faced questions about its slowing growth, rising costs, and changing market conditions.
The company aims to use a significant portion of the funds raised in the IPO to enhance its technology and expand its global presence.
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