Online fast-fashion retailer Shein is eyeing a company valuation of around $25 billion in its Hong Kong IPO, said three people with knowledge of the matter, down from nearly $100 billion four years ago due to challenging business conditions. Singapore-headquartered Shein, known for selling $5 dresses and $10 jeans to shoppers in about 160 countries, is aiming to launch its much-awaited initial public offering later this week, Reuters has reported. One of the three sources said that the company, which was founded in China in 2012, was looking at a valuation of between $25 billion and $28 billion based on the marketing price band for the offering. The sources declined to be named as they were not authorized to speak to the media ahead of a public announcement of the deal terms. A spokesperson for Shein did not immediately respond to a Reuters request for comment.
