Fast-fashion retailer Shein slashes valuation by over 60% from 2022 amid regulatory scrutiny and slowing revenue growth.
Shein plans to list on the Hong Kong Stock Exchange as early as mid-August, seeking a valuation of $30 billion to $40 billion. This marks a sharp decline from its $98.2 billion valuation in 2022 and a subsequent drop to $64 billion in private fundraising rounds in 2023 and April 2024.
The company faces headwinds from an FTC investigation into consumer protection violations and a $99 million tariff-related loss. Revenue growth slowed to 8% in 2025, reaching $42 billion, down from 20.7% growth the prior year. U.S. revenue fell 14.3% to $2.04 billion in the latest quarter, pressured by tariffs on packages under $800.
Shein’s valuation reset reflects broader challenges in its core markets, including regulatory risks and shifting trade policies.