Shein Wins Approval for $40 Billion Hong Kong IPO Amid Growth Concerns

Shein's Hong Kong IPO has received approval from the China Securities Regulatory Commission after a lengthy attempt to go public in New York and London. The company reported a revenue increase of 8% to $41.8 billion in 2025, slowing from 20.7% growth the prior year. Additionally, Shein experienced a $99 million loss in Q1 2026 due to removed import-duty exemptions and a significant accounting charge. Analysts now value the company between $30 billion and $40 billion, a significant decline from its nearly $100 billion valuation in 2022, highlighting market pressures for fashion retailers like Shein.