To display this YouTube content, it is necessary to authorize audience measurement and advertising cookies.

An extension in your browser appears to be blocking the loading of the video player. To be able to watch this content, you must disable or uninstall it.

Published on: 01/09/2026 - 10:21

The ultra-fast-fashion giant lost almost 10% during its first exchanges before finally closing the day in balance (-0.12%). Already valued almost four times less than in 2022, Shein must now convince that it can reinvent a model weakened by competition and new regulations.

Shein made its debut on the Hong Kong stock exchange on Tuesday, but the reception from investors was particularly cold. The stock, introduced at 48.56 Hong Kong dollars, lost almost 10% before partially recovering. The group remains valued at more than 26 billion dollars, compared to nearly 100 billion in 2022: the king of knockdown prices is therefore himself arriving on the stock market at a knockdown price.

Created in China in 2012, Shein has built its success on instant trend analysis and the production of clothing in very small quantities. The platform offers nearly 4,700 new models per day and has experienced spectacular growth during Covid-19, driven in particular by TikTok.

An economic model under pressure

After the failure of its plans to list in New York and then in London, Shein had to approach Beijing to obtain its IPO in Hong Kong. The group now faces competition from Temu and TikTok Shop, as well as the multiplication of measures on small packages in the United States and Europe. In France, a new ecological penalty targeting ultra fast fashion can now make products more expensive or directly reduce the platform's margins.

See alsoFast fashion: at the heart of the Shein machine, in China

Shein achieved nearly $42 billion in sales in 2025, more than Zara, but its net profit fell by almost 40% year-on-year. To bounce back, the group wants to become a sort of Amazon of fashion, welcoming other brands and offering them its factories, its technology and its global distribution network.

Related keywords

The content you are trying to access does not exist or is no longer available.