Shein's IPO is being pitched at under $30 billion. Four years ago it was worth $100 billion.

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https://thenextweb.com/news/shein-ipo-sub-30b-hong-kong-valuation-drop

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Shein's IPO is being pitched at under $30 billion. Four years ago it was worth $100 billion.

Shein's advisers are pitching investors at sub-$30B for its Hong Kong IPO. That's a 70% drop from its 2022 peak. Net profit halved. Margins collapsed. Q1 was a loss.