Shein slips on Hong Kong debut amid fast-fashion challenges
Fast-fashion retailer Shein fell on its Hong Kong trading debut as the unprofitable company contends with rising competition and the loss of tax breaks in key markets. Shares dropped 0.1 per cent from the initial public offering (IPO) price to close at HK$48.50. They earlier slumped as much as 10 per cent. The company raised HK$13.6 billion (US$1.7 billion) in its IPO, the fourth biggest in Hong…
Shein, a fast-fashion retailer, experienced a decline in its Hong Kong trading debut. The company's shares dropped 0.1 per cent from the initial public offering (IPO) price to close at HK$48.50, having earlier slumped as much as 10 per cent, according to SCMP Business and SCMP Tech. The IPO raised HK$13.6 billion (US$1.7 billion), which was the fourth biggest in Hong Kong.
The company, founded in China, had previously faced regulatory scrutiny in New York and London, leading to its decision to list in Hong Kong. Shein moved its headquarters to Singapore between 2021 and 2022. According to Gulf News, the company reported a full-year net profit of US$2.06 billion in 2025 but later swung to a US$99 million quarterly loss due to the US scrapping an import duty exemption on small packages.
Shein's European customer base grew to 156 million average monthly users by the end of 2025. The company plans to use the IPO proceeds to finance its technological capabilities and boost its international presence, as reported by Gulf News.
Brief written by urgent.news from SCMP Business, SCMP Tech, Gulf News, IOL — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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