DPA
1 min read
Shares in online fashion retailer Shein fell sharply in their Hong Kong debut on Tuesday, dropping about 8% below their issue price in early trading.
The stock fell below the initial public offering price of HK$48.56 ($6.19), marking a lacklustre start to a listing that Shein had spent years pursuing.
The China-founded company, which moved its headquarters to Singapore between 2021 and 2022, had previously sought listings in London and New York. Those attempts were reportedly held up by opposition from Beijing.
The Hong Kong listing comes after investor enthusiasm for the fast-fashion giant has cooled significantly.
Shein was valued at nearly $100 billion in a private funding round in 2022. Ahead of Tuesday’s trading debut, the figure was around $27 billion.
Shein disclosed ahead of the listing that it recorded a loss of $99 million in the first three months of the current half-year.
The company’s business model relies heavily on sending small shipments of clothing directly from manufacturers in China to customers around the world by air freight.
Transport costs have risen due to the conflict in the Middle East, while new tariff rules in the key US and European markets have added to the pressure by removing or restricting exemptions for low-value parcels, leaving more Shein shipments subject to import duties.
Shein, founded in 2012, estimated that it had 273 million active customers across around 160 countries as of 2025.
