Shein debuts in Hong Kong at $26.5B valuation, down from peak

Shein, the Chinese-founded ultrafast fashion giant, made its long-awaited stock market debut in Hong Kong on Tuesday, September 1, 2026, at a valuation of approximately $26.5 billion. This figure represents a dramatic decline from its peak private valuation of nearly $100 billion in 2022, capping a yearslong and turbulent journey to the public markets. The company priced its shares at HK$48.56, raising about $1.74 billion in the offering. However, shares fell roughly 7% when trading opened, reflecting investor skepticism. The listing marks the largest new share sale in Hong Kong so far this year and serves as a test of market appetite for the fast fashion sector amid significant headwinds.