Shein’s stock listing is almost here: Why the fast fashion giant has a much smaller valuation for its upcoming IPO

Fast fashion giant Shein Global Holdings Limited is planning to make its long-awaited stock market debut in Hong Kong next month. Best known for producing and selling inexpensive clothing and apparel, Shein was founded in 2008 in China, but is now headquartered in Singapore. The company has been a big hit with younger consumers and saw its sales and user growth soar during the pandemic-era lockdowns. Its valuation reportedly topped out at around $100 billion in 2022. However, weaker sales,…