Shein plans Hong Kong IPO on September 1 with valuation up to 23 billion euros

Shein, the online fast-fashion retailer, announced on August 24 that it will list its shares on the Hong Kong Stock Exchange starting September 1. The company, founded in China in 2012 and now headquartered in Singapore, is positioning the IPO at a valuation that may reach 23 billion euros.

According to the Journal du Net, the proposed valuation represents a significant decline from the roughly 100 billion euros estimated during investor meetings in 2022. In 2025, Shein reported revenue of about 36 billion euros, fulfilled over one billion orders globally, and posted a net profit of 1.8 billion euros. However, the company reported a net loss of 85.5 million euros in the first quarter of 2026, reflecting financial strain amid rising competition and regulatory pressure.

The IPO will involve the sale of 280 million shares priced between HK$47.60 and HK$49.50 (approximately 5.30 euros) per share, according to a Hong Kong Stock Exchange filing. This could raise up to HK$13.86 billion (about 1.5 billion euros) at a market capitalization of HK$210.3 billion (about 23 billion euros). The final offering price is expected to be announced on August 31, with trading to begin on September 1. Shein stated that proceeds from the IPO will be used to strengthen its technological capabilities and expand its international presence.

Shein operates in more than 150 countries and claims a customer base of 273 million, including 23 million in France. The company’s business model relies on rapid, low-cost fashion cycles and targeted social media marketing aimed at a young demographic. Previous attempts to go public in New York and London were reportedly blocked by regulatory hurdles, but Shein secured approval from Chinese regulators in July to proceed with the Hong Kong listing.

The company has faced criticism for promoting overconsumption and environmental harm, though it continues to attract customers with its low prices and broad product range.