Shein Is the Top U.S. Fashion Shop for Women
Shein's Hong Kong IPO priced at about $26.5B, a quarter of its 2022 peak valuation, with trading starting today. Statista Consumer Insights data (8,200 US respondents) show Shein leads US women shoppers at 30%, ahead of T.J.Maxx $TJX at 29%. Male reach: just 15%. Source: Statista
Shein's Hong Kong initial public offering priced this week near the midpoint of its marketed range, raising about $1.7 billion and valuing the company at roughly $26.5 billion. That is about a quarter of the nearly $100 billion valuation Shein reached in a private funding round in 2022, and well below the $66 billion mark it secured in 2023. Shares are set to begin trading today. The listing follows failed attempts to go public in London and New York, and comes as Shein's growth has slowed: revenue growth decelerated to 8% in 2025 from 20.7% the year before, and the loss of a U.S. import-duty exemption, combined with a one-time accounting charge, pushed the company to a $99 million loss in early 2026. Even so, new Statista Consumer Insights survey data underline Shein's reach with a specific audience. Among 8,200 U.S. respondents aged 18 to 64 who buy clothing, shoes or accessories, surveyed between July 2025 and June 2026, 30% of women said they had shopped at Shein in the past three months, the highest share among eight major fashion retailers compared, ahead of T.J.Maxx $TJX at 29% and Burlington $BURL at 25%. Shein's reach among men was the lowest in the group at just 15%, and its total reach across all respondents, 23%, trailed T.J.Maxx, Burlington, American Eagle $AEO and Old Navy. Source: Statista Consumer Insights via Statista.