A customer holds shopping bags with a Shein logo in the first physical space of online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l’Hotel de Ville, in Paris, France.
A view of the reception of the fast-fashion brand Shein’s office in Sao Paulo, Brazil.
Clothes from fast-fashion brand Shein hang at their office in Sao Paulo, Brazil.
LONDON/HONG KONG, Aug 4 (Reuters) – 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 has not publicly disclosed the IPO size, the offer price, and the listing timetable.The Singapore-headquartered company, which was founded in China, did not immediately respond to a Reuters request for comment.The draft IPO prospectus of Shein last month showed that the company swung to a $99 million quarterly loss due to slowing sales after the U.S. removed an import duty exemption on small packages and a hefty one-time accounting charge.Shein won approval from the China Securities Regulatory Commission (CSRC) for its Hong Kong listing on July 10, clearing the way for a listing after failed attempts in New York and London.00:08From firefighting to street patrols, Dubai ramps up robot use
Reporting by Summer Zhen and Selena Li in Hong Kong, Helen Reid in London, and Yantoultra Ngui in Singapore; Editing by Sumeet Chatterjee and Shri Navaratnam.
