Ultra-fast Fashion Retailer Shein Secures Hong Kong IPO

After failing to secure an IPO in both New York and London, the ultra-fast fashion retailer has received the go-ahead from China's securities regulator to go public in the Hong Kong stock market as early as next month.

According to confidential sources, Shein is looking to raise between USD 2 to USD 3 billion in the initial public offering, and a market valuation of USD 50 billion. The retailer, however, is being pressured to lower its target valuation by 40% citing a challenging economic environment, protectionist trade measures, regulatory scrutiny, increased competition, and a tarnished public image.

According to The Straits Times “Shein’s global web traffic growth slowed from more than 60 per cent year on year in the second half of 2025 to about 30 per cent earlier in 2026, before easing to single digits in June, according to Similarweb. Worldwide app downloads declined in most of the 12 months through May, falling by as much as about 30 per cent year on year at their steepest, according to market researcher Apptopia.”

According to Reuters, Shein is expected to meet in the coming few days with the Hong Kong Stock Exchange's listing committee for an IPO hearing.

Founded in 2012 by Chinese entrepreneur Sky Xu, Shein was once valued at almost USD 100 billion. However, in the last couple of years, the company has been maligned by both activists and regulators for their impact on both the environment as well as the local economy. Changes in de minimis rules in the US have also increased last price for consumers, and social media has maligned the company for becoming a beacon of over consumerism and quantity over quality.