Chinese retailer Shein is planning to raise about $1.77 billion U.S. in its initial public offering (IPO) that is planned for the Hong Kong Stock Exchange.
Shein is an online retailer that sells ultra-low-cost clothing, beauty products, and home goods.
Founded in 2008, the company operates entirely through its digital app and website and uses a fast-fashion model to release thousands of new items each day.
Shein said in its IPO prospectus that it plans to sell 280 million class B shares, priced between HK$47.60 and HK$49.50 per share, valuing it at $27 billion U.S. at the top end of that range.
The final price will be announced by the company on Aug. 31, with shares expected to start trading in Hong Kong on Sep. 1.
However, Shein’s valuation has fallen sharply from $64 billion U.S. in 2024. Back in 2022, Shein was valued at $98.2 billion U.S.
The company’s valuation has declined due to a slowdown in its growth and profitability, which has occurred largely because of U.S. tariffs and import duties.
Revenue growth decreased to 8% in 2025 from 20% a year earlier, while the loss of a U.S. import-duty exemption and a one-time charge pushed it to a $99 million U.S. loss this year.
Shein has said in recent months that it has been forced to pass on tariff costs to consumers in the form of higher prices.
Analysts warn that there could be lukewarm interest from investors in Shein’s upcoming IPO as the Hong Kong stock market has become dominated by artificial intelligence and chip firms.
