📉 A Massive Valuation Cut
Shein, once valued at $100B in 2022, is now worth just $30B. The online fashion giant had a $66B valuation in 2023. But a stalled U.S. IPO forced a shift to London, leading to a dramatic downgrade, Bloomberg reports.
🇬🇧 London, Not New York
Shein had planned to go public in the U.S. but faced scrutiny over supply chains. Instead, it filed for an IPO in London in June 2024. This move has now reshaped its valuation, reflecting investor caution.
💰 Investor Uncertainty
In January 2024, investors tried selling Shein shares at a $45B valuation. Big-name backers include IDG Capital, Tiger Global, and HongShan Capital. But market doubts persist as Shein eyes the London Stock Exchange.
⚔️ Amazon’s New Rival?
Despite its valuation drop, Shein remains a retail powerhouse. With rapid global growth, it could challenge Amazon in fast fashion. But first, it must navigate IPO hurdles and investor skepticism.
Can Shein still rival Amazon after slashing its valuation?
