Shein reportedly seeks investors at valuation below $30 billion for IPO

Shein’s advisers are approaching potential investors with a company valuation under $30 billion, according to a Financial Times report on Monday citing sources with knowledge of the discussions.

The proposed valuation marks a sharp decline from the more than $100 billion figure Shein reached following a private funding round in 2022, the report stated.

The online fast-fashion retailer has established an internal valuation target of $30 billion. The company may need to consult with current investors before moving forward with an initial public offering at a lower price point, according to the report.

Shein, which conducts manufacturing operations in China while maintaining corporate headquarters in Singapore, could face challenges attracting major Chinese institutional investors to participate in the IPO, the report noted.

Last week, Reuters reported that the Singapore-based company is targeting a valuation range of $30 billion to $40 billion for a Hong Kong IPO, which could launch as soon as mid-August.