Shein targets US$27b valuation with Hong Kong IPO

Shein, the fast-fashion giant, plans to debut on the Hong Kong stock exchange on September 1, according to the company's statement on Monday. This long-awaited listing is expected to value the group at nearly US$27 billion. To achieve this, Shein intends to offer 280 million shares at a price range of HK$47.60 to HK$49.50, potentially raising up to HK$13.86 billion (US$1.7 billion). The exact price will be disclosed on August 31, but even the higher end would still place Shein's valuation around US$26.8 billion.

Headquartered in Singapore, Shein initially received Beijing's approval last month for its initial public offering in Hong Kong. Prior plans to list in New York and London stalled due to regulatory hurdles, according to media reports. Leveraging its factories mainly in China, Shein differentiates itself from competitors through its rapid product design, efficient production, and supply chain management.

The retailer's extensive product range at remarkably low prices has positioned Shein on par with Amazon in the United States.

With the capital raised from the IPO, Shein aims to invest in its technological capabilities and expand internationally. Despite reporting a full-year net profit of US$2.06 billion in 2025, the company suffered a US$99 million quarterly loss due to the United States ending an import duty exemption for small packages. In 2021, Shein relocated its headquarters to Singapore but still benefits from China's unique combination of a massive low-cost textile manufacturing sector and a sophisticated e-commerce logistics network.

The company ranks suppliers based on flexibility and speed in delivering urgent orders, regularly removing the least efficient ones. By the end of last year, Shein boasted 156 million average monthly users in Europe, making it one of the continent's leading e-commerce platforms alongside AliExpress with 193 million users and Amazon around 180 million users.