Bloomberg Intelligence said on August 10 that Shein Global Holdings Ltd, a Singapore-headquartered fast-fashion retailer, may be worth US$22 billion to US$25 billion before a planned Hong Kong initial public offering.

That is below the roughly US$30 billion valuation some investors have pushed for. It is also far below Shein’s US$66 billion valuation in its 2023 funding round and its roughly US$100 billion peak in 2022.

Bloomberg Intelligence based the estimate on projected 2027 earnings, and said freight costs, tariffs, and regulatory pressure are likely to weigh on 2026 results.

Shein is pursuing a Hong Kong listing after initial public offering attempts in New York and London failed, and after Beijing approved the listing in early July 2026.

Pressure on Shein also reflects policy and operations. The US ended de minimis treatment for parcels worth less than US$800 from all countries on August 29, 2025, and Shein still relies on a mainland China-centered supply chain.

The company has pledged more than 10 billion yuan (US$1.48 billion) in Guangdong, where Guangzhou has cleared the first phase of a new supply-chain hub.

🔗 Source: Bloomberg

Recent Shein developments