Shein, a Singapore-based online fast-fashion retailer, plans to launch its Hong Kong initial public offering as soon as August 19, according to two people with knowledge of the matter.

The company has been marketing the share sale to investors this week and is targeting a valuation of US$30 billion to US$40 billion, the people said.

The offering comes as Shein faces slowing revenue growth, weaker core earnings, and shrinking margins, amid higher trade costs, tighter regulatory scrutiny, and intensifying competition in global ecommerce.

Shein was valued at US$98.2 billion in 2022, before falling to US$64 billion in 2023 and April 2024, highlighting the lower target range for the planned listing.

🔗 Source: Reuters

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