Shein is under pressure to cut its valuation to about $30 billion ahead of its London IPO, reports say.
| Photo Credit: REUTERS
Online fast-fashion retailer Shein is under pressure to cut its valuation to about $30 billion ahead of its London listing, reports said on Monday (February 17, 2025), citing people familiar with the matter.
Its shareholders are suggesting that an adjustment is required to help get the potential initial public offering in the U.K. over the line, reports said.
The company, founded by China-born entrepreneur Sky Xu, did not respond to a Reuters request for comment.
Earlier this month, Reuters reported that Shein was set to cut its valuation in a potential London listing to around $50 billion, nearly a quarter less than the company’s fundraising value of $66 billion in 2023, amid growing headwinds.
Last week, it was reported that the company’s plans to list in the U.K. stock market was likely to be postponed to the second-half of this year after U.S. President Donald Trump’s move to close so-called “de minimis” rules.
Shein was aiming to go public in London in the first-half of this year, assuming it secured approvals from regulators in the U.K. and China, Reuters reported.
Published – February 17, 2025 03:05 pm IST
