Shein business model: Into fashion's top 15 at a 70% discount

Shein will become the fourteenth most valuable listed fashion company in the FashionUnited Top 100 index when it starts trading on the Hong Kong stock exchange on September 1, 2026, at a market capitalisation of up to 26.80 billion dollars. That places the Singapore-headquartered, China-founded retailer directly below Sweden's H&M and above US group Tapestry. The figure also represents a fall of roughly 70% from the almost 100 billion dollars the company was worth in 2022.