Topline Shein has slashed its valuation to less than $30 billion, according tomultiplereports, a nearly 75% reduction from the value it boasted just four years ago as it prepares to go public in Hong Kong as soon as this month. Bloomberg reported Shein is seeking a valuation between $26 billion and $27 billion, noting the company recently pulled away from a $30 billion valuation following investor pushback fueled by slow revenue growth and tariff impacts. Shein will attempt to raise $2 billion in the IPO, Bloomberg added, noting existing shareholders could take up as much as around half the deal. Shein is planning to go public this month and possibly as soon asthis weekin Hong Kong, doing so after failing to launch an IPO in New York and London within the last few years. Key Background Shein, a digital fashion company offering low-priced clothing, boomed amid the height of the COVID-19 pandemic as shoppers spent more time on ecommerce sites.