Fast-fashion giant Shein set to open flat in Hong Kong market debut
Read a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
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
Sign up for our newsletters
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST
Tap here to return to FAST
FAST
About The Author
