By Blessing Nweke
Fast-fashion giant Shein is targeting a valuation of almost $27 billion as it prepares for its long-awaited stock market debut in Hong Kong on September 1, marking a major step for the online retailer after years of efforts to go public.
Shein said it plans to offer about 280 million shares at between HK$47.60 and HK$49.50 each. At the top of that range, the company would be valued at approximately $26.8 billion and could raise as much as HK$13.86 billion, or about $1.77 billion.
The proposed valuation represents a sharp decline from Shein’s peak private-market valuation of nearly $100 billion in 2022. The reduction reflects slower sales growth, higher operating costs, increased competition and growing regulatory pressure in key markets.
The Singapore-headquartered company, which was founded in China, has faced difficulties in its attempts to list in the United States and Britain. Regulatory scrutiny of its supply chain and business practices contributed to those setbacks before Hong Kong became its chosen market.
Shein’s financial performance has also weakened. The company reported a $99 million loss in the first quarter of 2026, compared with a $395 million profit during the same period a year earlier. The removal of a U.S. import-duty exemption for small packages has added further pressure to its business.
The listing will be closely watched by investors as Shein attempts to demonstrate that its low-cost global fashion model can remain profitable amid rising costs and tougher regulation.
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