Can Cut-Price Shein Shine in Its Long-Awaited Stock Market Debut?

Shein’s long-awaited arrival on the stock market comes in Hong Kong rather than New York or London, and at a valuation far below the one the fast-fashion company once commanded.

The company raised 13.6 billion Hong Kong dollars, or about $1.7 billion, after pricing its shares below the top of the marketed range. The listing valued Shein at $26.3 billion. That is roughly a quarter of the nearly $100 billion valuation once associated with the company.

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zero-tolerance policy for forced labour

Founded in China and now headquartered in Singapore, Shein sells through a global e-commerce network reaching more than 150 countries. It has become especially popular with younger shoppers by sourcing current fashions at extremely low prices through a large network of Chinese factories. The company said 281 million active customers placed more than one billion orders in the year through March 2026.

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it takes all claims of infringement seriously

Its public-market debut follows failed attempts to list in the United States and Britain. US lawmakers opposed a proposed American listing over allegations of forced labour in Shein’s supply chain. The company says it has a “zero-tolerance policy for forced labour.” It has also faced accusations of copying designers’ work and says it takes infringement claims seriously and respects designers’ rights.

The company is entering public markets as regulators in the United States and European Union target cheap imports and investors question fast-fashion companies’ performance. Louise Deglise-Favre of GlobalData described the listing as arriving at a “complex moment.” Shein’s earlier growth accelerated during the Covid-19 pandemic, helped by online shopping and viral “Shein Hauls,” but increased competition and geopolitical pressure now weigh on its global expansion.

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complex moment