Chinese fast-fashion company Shein is set to list on the Hong Kong Stock Exchange at roughly a quarter of its $100 billion valuation from 2022. CEO Sky Xu, 43, will see his personal wealth drop by over $15 billion to approximately $8 billion, based on his 30% stake in the company. Shein faces multiple headwinds including the removal of US tariff exemptions by the Trump administration, new EU customs duties on small parcels, and intensifying competition. The IPO timing proved unfavorable as investor interest has shifted toward AI companies, overshadowing e-commerce listings.
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