Shein searches for growth after cut-price IPO | FT #shorts
Financial TimesOnce a high-flying fast-fashion retailer, Shein’s Hong Kong market debut fell short of expectations. On September 3, the group's stock fell as low as HK$41.24 ($5.25), down from the listing price of HK$48.56. Shares closed almost 9% lower at HK$42, valuing the company at $22.7bn. The IPO value represents a sharp fall from its peak, when pandemic lockdowns and social media hype from 'Shein hauls' drew young consumers to its affordable fashion. The company was valued at about $100bn following a private fundraising round in 2022. However, investor enthusiasm began to ebb later that year and the next fundraising valued Shein at $66bn. #shein #fastfashion #clothing #clothingapparel #ipo #hongkong #initialpublicoffering #shorts #shortsvideo #shortfeed #shortsviral #shortsyoutube #shortsvideos Produced by Paolo Pascual. ► Enjoying FT content? Get a daily slice of the very best FT journalism with FT Edit. Free for 30 days then just £4.99 a month See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132. ► Check out our Community tab for more stories: https://www.youtube.com/@FinancialTimes/community ► Listen to our podcasts: https://www.ft.com/podcasts ► Follow us on Instagram: https://www.instagram.com/financialtimes ► Follow us on Instagram: https://www.tiktok.com/@financialtimes