Shein’s Hong Kong IPO plans value the fast-fashion retailer at about USD 25 billion to USD 28 billion, according to three people familiar with the offering, as cited by Reuters.
That range marks a steep decline from Shein’s valuation of nearly USD 100 billion four years ago. Reuters attributed the reduction to tougher business conditions.
One source said the USD 25 billion to USD 28 billion range reflected the marketing price band for the offering. Shein aims to launch the IPO later this week, Reuters reported.
The Singapore-headquartered retailer was founded in China in 2012. It sells low-cost fashion products to customers in about 160 countries, according to the report.
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The three sources asked Reuters not to identify them because Shein had not yet publicly announced the deal terms. A company spokesperson did not immediately respond to Reuters’ request for comment.
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The supplied material also cites earlier valuation targets and financial figures. However, those numbers do not appear in the Reuters excerpt that anchors the story, so they are excluded from the main news copy pending independent confirmation.
