Shein IPO valuation more than 70% below its 2022 funding round peak

Fast-fashion giant Shein is heading to a Hong Kong stock exchange listing with a valuation more than 70% below its record 2022 funding round, according to Reuters. The company aims to raise up to approximately $1.77 billion despite slowing growth, rising competition and risks from tariffs and regulation. Some analysts say Shein has already missed the optimal window for its IPO.