Shein’s global web traffic growth has decelerated to single-digit levels in June, according to data from analytics firm Similarweb.
The slowdown in user acquisition comes as the fast-fashion giant advances toward its highly anticipated initial public offering on the Hong Kong Stock Exchange.
Shein is targeting an IPO window in September or October, with plans to sell up to 8% of its equity.
The deceleration reflects broader headwinds in the e-commerce sector, where consumer enthusiasm for online shopping has cooled amid persistent inflation and rising fuel costs that have pushed up retail prices.
For investors, the shift from hyper-growth to more moderate expansion signals a potential re-rating of the company’s valuation ahead of its public debut.
Shein is targeting an IPO window in September or October, with plans to sell up to 8% of its equity.
The final size of the offering will depend on market conditions and investor appetite at the time of the launch.