Shein Targets $27 Billion Hong Kong IPO as Valuation Sinks From $100 Billion Peak
Updated
Updated · Gizmodo · Aug 25
Shein Targets $27 Billion Hong Kong IPO as Valuation Sinks From $100 Billion Peak
3 articles · Updated · Gizmodo · Aug 25
Summary
Shein plans to debut in Hong Kong at the start of next month with an IPO valuation of about $27 billion, far below the $100 billion level reached in a 2022 funding round.
Abolition of the U.S. de minimis tariff exemption in 2025 under Trump raised costs on Shein's low-priced shipments, undercutting the pricing model that fueled its rise with young American shoppers.
The pressure is already showing in earnings: Shein reported a $99 million quarterly loss last month after years of pandemic-era expansion built on cheap, fast-turnaround apparel from Guangzhou suppliers.
Hong Kong is Shein's third listing destination after earlier attempts to go public in New York and London, underscoring how trade changes and scrutiny have reshaped the once high-flying retailer's path to market.