Fast-fashion giant Shein set to open flat in Hong Kong market debut

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A staff member holds a prospectus and poses for photos during the listing ceremony of online retailer Shein at the Hong Kong Stock Exchange, in Hong Kong, China, September 1, 2026. REUTERS/Tyrone Siu
A man takes a photo of the stock code of online fashion retailer Shein displayed on a screen during its listing ceremony at the Hong Kong Stock Exchange, in Hong Kong, China, September 1, 2026. REUTERS/Tyrone Siu TPX IMAGES OF THE DAY
Staff wear T-shirt featuring the logo of online fashion retailer Shein during its listing ceremony at the Hong Kong Stock Exchange in Hong Kong, China, September 1, 2026. REUTERS/Tyrone Siu
The stock code of online fashion retailer Shein is displayed on a screen during its listing ceremony at the Hong Kong Stock Exchange, in Hong Kong, China, September 1, 2026. REUTERS/Tyrone Siu
Shein's Chief Financial Officer Leigh Gui attends the company's listing ceremony at the Hong Kong Stock Exchange, in Hong Kong, China, September 1, 2026. REUTERS/Tyrone Siu

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HONG KONG, Sept 1 : Shares in fast fashion giant Shein were set open flat in their Hong Kong market debut on Tuesday, hurt by numerous setbacks that have long delayed its listing and undermined the foundations of its business.

Known globally for selling $5 tops and $10 dresses, Shein has been humbled by tariff and duty changes in the U.S. and Europe.

In 2022, it was one of the world's most valuable startups worth an estimated $100 billion but last week's IPO valued the company at about $26.5 billion. Shein also failed to list in New York and London, hampered by intense scrutiny of its business practices in the West and blocked by Chinese authorities.

 

 

Source: Reuters

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