Shein IPO Disappoints Amid Growth Concerns in Hong Kong Debut

Fashion retailer Shein faced a lackluster market debut in Hong Kong, reflecting investor worries over slowing growth, higher costs, and challenges in its international expansion. The IPO, which raised $1.7 billion, resulted in a market capitalization of around $26 billion for the Singapore-based company, marking a significant drop from its peak valuation of nearly $100 billion during the COVID boom of 2022. Investors’ concerns were exacerbated by Shein’s slowing growth and escalating losses in the face of fierce competition from e-commerce and fast-fashion rivals. The company’s reliance on price competition, coupled with rising expenses due to US-China trade tensions, has…