Fast-fashion giant SHEIN is moving closer to a major listing on the Hong Kong Stock Exchange, with the company reportedly targeting a valuation of between 35 and 40 billion US dollars.
The planned IPO comes as SHEIN seeks to strengthen its position in the highly competitive global fashion market. The company reported about 41.8 billion dollars in revenue in 2025, highlighting the scale of its worldwide business.
However, the proposed valuation is significantly below SHEIN’s peak private valuation of nearly 100 billion dollars in 2022.
The company has faced increasing pressure from changing trade rules, higher costs and tougher competition in the fast-fashion sector.
If successful, the Hong Kong listing would mark a major milestone for SHEIN and could give investors a new way to participate in one of the world’s biggest online fashion retailers.
Shein targets 35 – 40 billion dollars IPO
