Fast-fashion giant Shein aims for $27bn valuation in Hong Kong market debut

Подробности

Clothes from fast-fashion brand Shein hang at their office in Sao Paulo, Brazil. Photograph: Jorge Silva/Reuters View image in fullscreen Clothes from fast-fashion brand Shein hang at their office in Sao Paulo, Brazil. Photograph: Jorge Silva/Reuters Shein Fast-fashion giant Shein aims for $27bn valuation in Hong Kong market debut Known for selling cheap clothing, the online retailer has seen its value drop sharply from earlier estimates amid scrutiny over its environmental footprint

Prefer the Guardian on Google Shein will debut on the Hong Kong stock exchange on 1 September, the fast-fashion retailer said on Monday, in a long-awaited listing that would value the group at close to $27bn.

Founded in China and now headquartered in Singapore, the online retailer secured Beijing’s approval last month to make its initial public offering in Hong Kong.

Its valuation has dropped by about 70% from a near $100bn private market peak four years ago, as it aims to raise up to HK$13.86bn ($1.77bn) ⁠in its Hong Kong IPO launched ⁠on Monday.

Known for selling $5 dresses and $10 jeans to ⁠shoppers in about 160 countries, the ​marked decline in valuation comes after Shein faced questions over slowing ‌growth, rising costs and changing market conditions.