Shein valued up to R404 billion before listing

• Shein's valuation is estimated to be up to R404 billion before listing, according to Bloomberg Intelligence.
• The valuation is based on projected 2027 earnings, which are expected to recover to $1.67 billion and grow 20% annually through 2029, assuming a normalized growth and earnings outlook.
• Shein's valuation is below expectations, with the company aiming for a $30 billion to $40 billion valuation, and its supply chain and regulatory risks are considered in the estimate, which captures the middle ground between a China-linked marketplace and a global fast-fashion company.