Shein, the ultra-fast-fashion company that once commanded a private valuation north of $98 billion, is preparing to list in Hong Kong at a price tag that’s roughly a quarter of what it was worth at its peak. The company is marketing the IPO to investors now, with a target launch date of August 19. 2 billion high was set in 2022, and by 2024 the company had already slipped to $64 billion. A long road to going public Shein originally pursued a listing in New York, which fell apart amid regulatory scrutiny and political headwinds tied to the company’s China-linked supply chain. Hong Kong became the fallback, and the China Securities Regulatory Commission granted its approval for the listing in July 2026.