Shein aims for almost $27bn valuation in stock market debut — SkimNews
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- Shein targets a ~$27bn (£19.8bn) Hong Kong stock market debut on 1 September, offering nearly 280 million shares at HK$47.60–HK$49.50 each to raise up to $1.77bn.
- The IPO valuation is a roughly 73% drop from the $100bn Shein was worth in 2022, reflecting weaker sales growth and higher costs.
- Shein swung to a $99m net loss in Q1 2026 — down from $395m net income a year earlier — after Trump ended the de minimis import duty waiver on small US packages.
- Goldman Sachs, Morgan Stanley and JP Morgan are backing the listing, which follows failed attempts to go public in New York and London over supply chain scrutiny.
- Hong Kong has revived as a major IPO hub for mainland Chinese firms wary of US de-listing risks amid US-China tensions, per Nanyang Technological University economics professor Feng Qu.
- Shein's pricing edge is "narrowing" against rivals Primark and H&M as new duties force US price hikes, per Euromonitor's Marguerite LeRolland.
Why it matters: Shein's $27bn target — roughly a 73% markdown from its 2022 peak — shows the de minimis model that fueled its rise is now structurally undermined. Goldman Sachs, Morgan Stanley and JP Morgan are underwriting an IPO Hong Kong took after the US and London rejected it, but Shein's $99m quarterly loss and price hikes are narrowing the gap with Primark and H&M.
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