The shares of online fashion giant Shein fell more than 9% in the first minutes of trading on the Hong Kong Stock Exchange, as the company made its debut on the stock market.
The company was valued at around 22.6 billion euros during this entry on the Hong Kong Stock Exchange, in a moment that marked one of the biggest IPOs in the global fashion sector.
The sharp drop in shares reflected investor skepticism regarding the company's valuation and growth prospects in a competitive market.
Shein, known for its business model based on fast fashion at low prices, now faces the challenge of proving to investors that it can maintain growth and profitability in an increasingly competitive market.
