Shein set for cut-price stock market debut in Hong Kong

Shein, the fast-fashion retailer, is set to make its market debut on the Hong Kong stock exchange on September 1, according to the company's announcement on Monday. The listing, which is highly anticipated, is expected to value the group at nearly US$27 billion. Shein plans to issue 280 million shares, with a price range of HK$47.60 to HK$49.50 per share, potentially raising up to HK$13.86 billion (US$1.7 billion).

The final share price will be determined on August 31, but even at the higher end, the company would still be valued around US$26.8 billion. Founded in China and now headquartered in Singapore, Shein won Beijing's approval for its initial public offering in Hong Kong last month. Until now, plans to list in New York and London had been delayed by regulatory hurdles.

With most of its manufacturing facilities in China, Shein distinguishes itself from competitors through rapid product design, efficient production, and a streamlined supply chain. The company's extensive product range at remarkably low prices has positioned it alongside Amazon in the United States. Shein intends to use the funds raised from the IPO to bolster its technological capabilities and expand its international reach.

The firm reported a full-year net profit of US$2.06 billion in 2025 but experienced a $99 million quarterly loss due to the United States withdrawing an import duty exemption for small packages. Despite moving its headquarters to Singapore between 2021 and 2022 to evade heightened global scrutiny of Chinese companies, Shein continues to capitalize on China's abundant low-cost textile manufacturing and sophisticated e-commerce logistics network.

Analysts highlight the company's strategic approach in ranking suppliers based on flexibility and ability to fulfill urgent orders, regularly eliminating underperforming vendors. As of the end of last year, Shein boasted a European customer base of 156 million average monthly users, placing it among the continent's leading e-commerce platforms alongside AliExpress (193 million users) and Amazon (approximately 180 million users).

However, Shein has faced criticism over its environmental impact and allegations of human rights violations. While the company's executive chairman asserts a zero-tolerance stance on forced labor, activists from Mouv'Enfants, a French children's protection association, staged protests during the opening of Shein's first physical store in Paris in November 2025.

The company has also faced fines in France totaling over 22 million euros (US$25.1 million) for issues related to product traceability, environmental labeling, and delivery times.