Shein valued at $26bn after long-awaited stock market debut
Ultra-fast-fashion brand Shein has been valued at $26.2bn (£19.3bn) after its first day of public trading, following a long quest to list on the stock market. The company was once estimated to be worth nearly $100bn, but has faced heated competition, trade tensions and questions over the ethics of its supply chain. Shein’s share price [...] The post Shein valued at $26bn after long-awaited stock…
Shein, the ultra-fast-fashion retailer, has been valued at $26.2bn (£19.3bn) following its debut on the stock market. The company, once estimated to be worth nearly $100bn, has faced intense competition, trade tensions and concerns over its supply chain and environmental impact. Shein's shares fell by up to 10% in early trading but later recovered to close at $48.50, giving the company a valuation of $26.15bn.
The IPO was postponed due to concerns over supply chain issues and the company's environmental impact. Shein, which has over 273 million active customers, raised $1.7bn from the Hong Kong listing, marking the largest new share sale in Hong Kong this year. The listing is seen as a test of investor appetite for the fast-fashion industry.
However, the company now faces higher costs, regulatory scrutiny and increased competition. Analysts warn that Shein's cheap prices may become harder to sustain, potentially leading to higher prices.
Written by urgent.news from KahawaTungu's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
