Shein raised $1.7B in its Hong Kong IPO, giving it a $26B market cap, far below its ~$100B valuation in 2022, as growth slows amid tariffs and competition (Charlotte Yang/Bloomberg)

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Charlotte Yang / Bloomberg : Shein raised $1.7B in its Hong Kong IPO, giving it a $26B market cap, far below its ~$100B valuation in 2022, as growth slows amid tariffs and competition   —  Shein Global Holdings Ltd. completed its initial public offering at a valuation that's a fraction of what the company was once worth.