Shein Plans Hong Kong IPO Valuation Around $25B

5 sourcesUpdated Aug 17, 2026

Shein is pursuing a Hong Kong IPO after failed attempts in New York and London, with current valuation targets ranging from about $22-25 billion to as high as $35-40 billion as it seeks to appease late-stage investors and support growth. Analysts and Reuters reports note the company’s multiple revisions downward from a peak near $98 billion in 2022, reflecting weaker profitability and slowed growth. The IPO aims to raise funds and expand beyond its core fashion business, leveraging its Large-scale Automated Test Reorder system and a rapidly expanding global footprint across roughly 160 markets. Despite a net loss of about $99 million in early 2026 and a strategy to maintain at least a 50% dividend payout, Shein has seen strong user growth, with active customers increasing from 186 million in 2023 to 273 million in 2025. Industry comparisons show Shein’s inventory turns and efficiency metrics outpacing some traditional peers, while its valuation sits between or above peers like Inditex and H&M depending on the market’s pricing. The company is also exploring growth through partnerships with external brands and expanding its supply chain and technology investments as it positions itself from a China-linked cross-border retailer to a global fashion platform.

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SUPIF short interest surges 1,348% in July

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Last updatedAug 17, 2026

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The Irish ExaminerLean LeftShein eyes company valuation of around $25bn, from $98bn four years ago

cryptobriefing.comOtherShein targets $25B valuation in Hong Kong IPO, a steep fall from its $98B peak

The Economic TimesOtherShein eyes company valuation of around $25 billion in Hong Kong IPO - The Economic Times

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