Shein, the renowned online fast-fashion retailer, is reportedly under pressure to lower its valuation to approximately $30 billion as it gears up for a listing on the London Stock Exchange. Sources familiar with the situation informed Bloomberg News about this potential adjustment.
Shareholders have suggested revising the valuation to facilitate a successful initial public offering (IPO) in the UK. Founded by Chinese entrepreneur Sky Xu, Shein has so far chosen not to comment on inquiries from Reuters regarding the matter.
Earlier reports indicated that Shein intended to cut its valuation for a London listing to around $50 billion, a notable reduction from its previous fundraising valuation of $66 billion in 2023. The company is facing growing challenges, possibly delaying its UK stock market debut to later this year due to shifting regulatory landscapes.
(With inputs from agencies.)