Shein is seeking a valuation of $30 billion to $40 billion in a Hong Kong initial public offering (IPO) that the online fast-fashion retailer plans to launch as early as mid-August, three people familiar with the matter said.
Shein started pre-deal investor meetings last week, one person said. The deal could be launched in mid-to-late this month, said two of the people, all of whom declined to be named as the plans are confidential.
The previously unreported $30 billion-$40 billion IPO valuation target would represent a steep markdown from the $98.2 billion valuation in 2022 and $64 billion valuation achieved in private fundraising rounds in 2023 and April 2024, reflecting mounting business challenges.
The IPO valuation and the launch timeline are not final yet and subject to changes after feedback from investor meetings, said the people.
Shein did not immediately respond to Reuters request for comment.
Reuters
