Shein's IPO Prospects Dim as Investors Struggle to Offload Shares

The online fashion giant's valuation drops to $45 billion amid stiff competition and regulatory scrutiny.

Shein's investors are struggling to sell shares in private market deals, with the company's valuation dropping to as low as $45 billion.
The reduced valuations and difficulty finding buyers raise concerns about further devaluation and cast a shadow over Shein's much-anticipated IPO in the U.S.
Shein, once a dominant player in the cut-rate apparel market, is now facing stiff competition from Temu, a direct rival launched by Chinese e-commerce giant PDD Holdings Inc.
Major clothing brands have accused Shein of copyright infringement, and Shein's IPO plans have been under fire due to an inquiry into its data privacy practices and its relationship with the Chinese Communist Party.
Shein has also been facing legal challenges from Temu, which filed a lawsuit against Shein, alleging intensified anti-competitive practices.