Shein $30 Billion IPO Would Still Be a Stretch

Shein Group Ltd. is under pressure to cut its valuation to about $30 billion as it prepares to go public, Bloomberg News reported this week. That would still overprice the fast-fashion retailer caught in the crosshairs of US President Donald Trump’s trade war.

Shein has been looking to list for at least the past year or so. With London increasingly losing out to New York when it comes to initial public offerings, British authorities have been keen to woo the seller of $15 dresses and $2 glass drinking straws. Around six months ago, a valuation of about $60 billion was said to have been targeted. Shein shareholders are suggesting the company lower its sights to get its offering away, according to Bloomberg. Assuming the $30 billion is equity, this would be a more realistic target — but it might still prove punchy given the considerable uncertainties around Shein’s business in the US, its biggest market.