Shein eyes $30B-$40B valuation for Hong Kong IPO, may adjust investor terms

Fast-fashion giant Shein is reportedly exploring adjustments to its investment terms for late-stage investors as it prepares for a Hong Kong initial public offering. The company is seeking a valuation between $30 billion and $40 billion for the IPO, which could launch as early as mid-August. This target valuation represents a significant decrease from its previous valuations, including $98.2 billion in 2022 and $64 billion in recent private fundraising rounds. These adjustments come as Shein faces mounting business challenges, evidenced by a $99 million net loss in the first quarter, a stark contrast to the $395 million profit recorded in the same period last year. The final terms for investors and the IPO timeline remain subject to change based on feedback from ongoing investor meetings.