Shein’s IPO is being pitched at under $30 billion. Four years ago it was worth $100 billion.

Shein’s advisers are pitching the fast-fashion giant to investors at a valuation below $30 billion for its Hong Kong IPO, a roughly 70% drop from the $100 billion-plus valuation it hit in a 2022 private fundraising. Internally, Shein set a target of $30 billion.

Source: [TNW](https://thenextweb.com/news/shein-ipo-sub-30b-hong-kong-valuation-drop)