Shein at a glance
As of- [1] Equity raised: Sum of the 1 sourced equity round in the funding history below (debt, tender offers and rumored rounds excluded), March 9, 2023
- [2] Founded: Wikipedia (retrieved September 5, 2026)
- [3] Headquarters: Wikipedia (retrieved September 5, 2026)
What Shein does
Shein is an online fashion retailer known for low-priced apparel such as $5 tops and $10 dresses.[1] Reuters reports that Xu founded it in China in 2012 as Sheinside.[2] Xu rebranded the company as Shein in 2015.[2] Shein moved its headquarters from China to Singapore in 2022, though its suppliers and warehouses largely remain in China.[2] Its supply chain is concentrated in thousands of garment factories in Guangzhou.[2] The United States is its largest consumer market.[3] Net profit fell 38.7% in 2025 to $2.064 billion.[4] In the first quarter of 2026 it swung to a net loss of $99 million.[4],[1] That was well below its 2022 private-market peak of nearly $100 billion.[1] Its earlier attempts to list in New York and London were blocked by Chinese authorities.[1] As part of the listing, Shein agreed to cash payments of about $3.5 billion and share adjustments for some preferred shareholders.[1]
Business model and customers
Revenue rose from $32.1 billion in 2023 to $38.7 billion in 2024 and $41.8 billion in 2025.[4]
Leadership
- Founder and CEO Xu Yangtian, who uses the English name Sky, started the company in Nanjing, China, with Maggie Gu, Molly Miao and Tony Ren.[2]
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Company Snapshot
Shein is a Consumer company, based in Singapore, founded 2008 by Chris Xu.
Recent changes
- Sep 2, 2026Sep 2, 2026Shein's Hong Kong Debut Keeps Sliding Pulse story
- Sep 1, 2026Sep 1, 2026Shein's Hong Kong Debut Falls 9% on Trade Worries Pulse story
- Aug 25, 2026Aug 25, 2026Shein Prices Hong Kong IPO at $27B, Down 70% From Peak Pulse story
- Aug 24, 2026Aug 24, 2026Shein Targets a $26 Billion IPO Valuation Pulse story
- Jul 27, 2026Jul 27, 2026Shein's IPO Prospectus Reveals Slowing Growth Pulse story
Earlier changes (5)
- Jul 22, 2026Jul 22, 2026Shein Wins Hong Kong Listing Nod, Eyes Up to $50B IPO Pulse story
- Mar 9, 2023Mar 9, 2023Raised $2B Private equity round CNBC
- Mar 9, 2023Mar 9, 2023New investor: General Atlantic CNBC
- Mar 9, 2023Mar 9, 2023New investor: HongShan (Sequoia China) CNBC
- Mar 9, 2023Mar 9, 2023New investor: Mubadala Capital CNBC
Funding history
1 equity event · newest first · sources dated per row| Date | Round | Amount | Valuation | Lead investors | Source |
|---|---|---|---|---|---|
| Mar 9, 2023 | Private equity round | $2B | — | — | CNBC |
Equity only. “Equity raised” above sums the rounds with a dated, linked source; rumored rounds, tender offers and secondary sales are listed but not counted, and debt financing is listed separately.
Investors
Latest Pulse
- Sep 2, 2026Shein's Hong Kong Debut Keeps SlidingShein shares fell for a third straight session in Hong Kong, down roughly 13.5% from their IPO price after a $1.74 billion listing valued the fast-fashion giant 70% below its private peak.→
- Sep 1, 2026Shein's Hong Kong Debut Falls 9% on Trade WorriesShein began trading in Hong Kong at a $26.5 billion valuation -- a fraction of its 2022 private mark -- and closed its first day down about 9% on trade and regulatory concerns.→
- Aug 25, 2026Shein Prices Hong Kong IPO at $27B, Down 70% From PeakShein launched its long-delayed Hong Kong IPO at a valuation of roughly $27 billion, a 70% drop from the $98.2 billion private-market mark it carried in 2022, as revenue growth has nearly stalled.→
- Aug 24, 2026Shein Targets a $26 Billion IPO ValuationShein expects to price its long-delayed listing at a valuation around $26 billion, well below the $66 billion mark it carried in its 2023 private round.→
- Jul 27, 2026Shein's IPO Prospectus Reveals Slowing GrowthShein's Hong Kong IPO prospectus disclosed slowing revenue growth and a swing to a quarterly loss, complicating its push for a $40-50 billion valuation.→
- Jul 22, 2026Shein Wins Hong Kong Listing Nod, Eyes Up to $50B IPOShein secured approval from Hong Kong's listing committee for an IPO after already winning Chinese regulatory clearance, setting up a high-stakes debut as soon as September at a valuation of up to $50 billion.→
Coverage Timeline
newest first- Sep 2, 2026IPOShein's Hong Kong Debut Keeps Sliding$1.74B IPO, -13.5% since→
- Sep 1, 2026IPOShein's Hong Kong Debut Falls 9% on Trade Worries$26.5B IPO valuation→
- Aug 25, 2026IPOShein Prices Hong Kong IPO at $27B, Down 70% From Peak→
- Aug 24, 2026IPOShein Targets a $26 Billion IPO Valuation$26B→
- Jul 27, 2026IPOShein's IPO Prospectus Reveals Slowing Growth$40B-$50B Target→
- Jul 22, 2026IPOShein Wins Hong Kong Listing Nod, Eyes Up to $50B IPO$40B-$50B Target→
All Coverage
IPO$1.74B IPO, -13.5% since
Shein's Hong Kong Debut Keeps Sliding
Shein shares fell for a third straight session in Hong Kong, down roughly 13.5% from their IPO price after a $1.74 billion listing valued the fast-fashion giant 70% below its private peak.
DEEP DIVE
Shein's Hong Kong Debut Falls 9% on Trade Worries
IPO$26.5B IPO valuation
Shein's Hong Kong Debut Falls 9% on Trade Worries
Shein began trading in Hong Kong at a $26.5 billion valuation -- a fraction of its 2022 private mark -- and closed its first day down about 9% on trade and regulatory concerns.
DEEP DIVE
Shein Prices Hong Kong IPO at $27B, Down 70% From Peak
IPO
Shein Prices Hong Kong IPO at $27B, Down 70% From Peak
Shein launched its long-delayed Hong Kong IPO at a valuation of roughly $27 billion, a 70% drop from the $98.2 billion private-market mark it carried in 2022, as revenue growth has nearly stalled.
FOLLOW-UP
Shein Targets a $26 Billion IPO Valuation
IPO$26B
Shein Targets a $26 Billion IPO Valuation
Shein expects to price its long-delayed listing at a valuation around $26 billion, well below the $66 billion mark it carried in its 2023 private round.
DEEP DIVE
Shein's IPO Prospectus Reveals Slowing Growth
IPO$40B-$50B Target
Shein's IPO Prospectus Reveals Slowing Growth
Shein's Hong Kong IPO prospectus disclosed slowing revenue growth and a swing to a quarterly loss, complicating its push for a $40-50 billion valuation.
Shein Wins Hong Kong Listing Nod, Eyes Up to $50B IPO
IPO$40B-$50B Target
Shein Wins Hong Kong Listing Nod, Eyes Up to $50B IPO
Shein secured approval from Hong Kong's listing committee for an IPO after already winning Chinese regulatory clearance, setting up a high-stakes debut as soon as September at a valuation of up to $50 billion.
Value Add Research
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Shein FAQ
What is Shein's valuation?
Shein listed in Hong Kong on September 1, 2026, at HK$48.56 a share in an IPO that raised $1.7 billion and valued it at $26.5 billion.[1]
Who founded Shein?
Founder and CEO Xu Yangtian, who uses the English name Sky, started the company in Nanjing, China, with Maggie Gu, Molly Miao and Tony Ren.[2]
Where is Shein headquartered?
Shein moved its headquarters from China to Singapore in 2022, though its suppliers and warehouses largely remain in China.[2]
What does Shein do?
Shein is an online fashion retailer known for low-priced apparel such as $5 tops and $10 dresses.[1]
How much has Shein raised?
Shein has raised at least $2B in equity across 1 sourced funding round tracked by Value Add VC. The most recent was a $2B Private equity round in March 2023, reported by CNBC. Debt financing, tender offers and secondary sales are not counted.
When was Shein founded and where is it based?
Shein was founded in 2008 and is headquartered in Singapore, according to Wikipedia.
References
researched 2026-10-24Sources & methodologyshow
Where these figures come from
- CNBCmajor outlet1 fact
Figures are labelled Reported (a source states it), Estimated, Derived (computed from other facts) or Rumored (in talks / unconfirmed). Rumors never replace a confirmed figure. Each figure keeps its own as-of date; history is preserved rather than overwritten.