HONG KONG — Shein Global Holdings Ltd. is set to go public in Hong Kong on Tuesday, August 30, 2026, at a valuation of just over $25 billion. This figure represents approximately a quarter of the company's $100 billion valuation in 2022.

Sky Xu holds a 30% stake in the retailer. His net worth is approximately $8 billion at the listing price, based on the Bloomberg Billionaires Index methodology using publicly disclosed ownership and market data. This amount marks a decline of more than $15 billion from a previous high of more than $23 billion.

The 43-year-old founder started Shein in 2012 with three partners who had previously worked at the same search-engine marketing company. The company later moved its global headquarters to Singapore and required Chinese regulators’ approval for its initial public offering.

Shein disclosed data in July indicating that its revenue growth has slowed since the pandemic era. Regulatory changes also affected the business environment last year. The Trump administration ended a key tariff exemption for small shipments to the U.S. during that period. The European Union announced a fixed customs duty on small parcels last year as well.

Analysts note that the reduced valuation reflects both macroeconomic pressures and shifting consumer demand. The company has expanded its supply chain transparency initiatives in response to scrutiny over fast fashion practices. It has also increased investments in its domestic Chinese market amid slowing overseas growth. Regulatory filings show that Shein reported $22.7 billion in revenue in 2025, up 8% from the prior year, compared to growth rates exceeding 50% annually during the early 2020s. The IPO proceeds will be used to strengthen logistics infrastructure, repay debt, and fund technology upgrades. Institutional investors have expressed cautious interest, citing geopolitical risks and competitive pressures from rivals like Temu and Zara. The Hong Kong Stock Exchange confirmed the listing date following final approval from mainland Chinese authorities responsible for overseas IPOs. The offering will include both primary shares and secondary sales by early investors.

Timeline

2012: Sky Xu starts Shein with three partners. 2022: Shein reaches a valuation of $100 billion. July 2026: Shein discloses data showing slowed revenue growth. August 30, 2026: Shein sets IPO date in Hong Kong at ~$25 billion valuation.

What's New

Shein Global Holdings Ltd. is scheduled to list in Hong Kong on August 30, 2026. The company's valuation is set at just over $25 billion, down from $100 billion in 2022. Founder Sky Xu's net worth is estimated at $8 billion, a drop of over $15 billion from its peak.

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