Shein is said to face investor pressure to slash valuation to US$30 billion

Fast-fashion retailer Shein is under pressure to cut its valuation to about US$30 billion (HK$234 billion), according to people familiar with the matter, having in the past been valued at more than three times that amount.

Shein shareholders are suggesting that an adjustment is needed to help get its potential initial public offering in the UK over the line, the people said, asking not to be identified because the talks are private.

Shein’s had a bumpy ride in its attempt to go public, with questions raised over its supply-chain operations and labor practices, while uncertainty over global trade relations and political tension is mounting. The company rerouted its IPO application to London last year after its goal of listing in the US faltered.

Representatives for Shein didn’t immediately respond to a request for comment.