Shein founder Sky Xu's wealth slashes over US$15 billion - The Standard (HK)

City Voices Trending Hong Kong Business International Racing Lifestyle Showbiz Sport Opinion Games ePaper City Voices Trending Hong Kong Business International Racing Lifestyle Showbiz Sport Opinion Games BUSINESS FINANCE Shein founder Sky Xu's wealth slashes over US$15 billion FINANCE 4 hours ago Sunglasses are displayed at the reception of the fast-fashion brand Shein's office in Sao Paulo, Brazil, December 15, 2025. REUTERS Chinese fast-fashion firm Shein's founder Sky Xu Yangtian saw his personal wealth fall more than US$15 billion (HK$117 billion) to US$8 billion, according to the Bloomberg Billionaires Index. ADVERTISEMENT SCROLL TO CONTINUE WITH CONTENT The online retailer was valued above Inditex at its peak - the fashion giant behind H&M and Zara, pushing Xu's fortune to over US$23 billion. However, the firm's valuation in the Hong Kong initial public offering is nearly 70 percent below the nearly US$100 billion market valuation that it was worth in 2022. Over the past years, Chinese consumer brands that went public attracted strong investor interest until a wave of artificial intelligence companies' debuts shifted market attention, according to Bloomberg's report. Sam Wyatt, an international-equities portfolio manager at U Ethical Investors, said in the report that Shein definitely missed the window, adding that e-commerce is less attractive than AI for investors. Xu, who graduated from Qingdao University of Technology in 2007 with a degree in international trade, ventured into cross-border trade entrepreneurship in 2008, initially expanding into overseas markets with products such as wedding dresses. He founded Shein in 2012 and focuses on the womenswear business, developing a supply chain that adopted a "small-batch, quick-response" model. Shein Sky Xu wealth valuation 𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓ Top News Read More Still No. 2: HK keeps billionaire crown despite recent decline, report shows FINANCE 7 mins ago How Shein had to make peace with China to finally go public CHINA 28-08-2026 16:55 HKT Hong Kong exchange to launch Shein derivatives after trading debut next week FINANCE 28-08-2026 14:21 HKT Shein's Hong Kong IPO pricing values company at US$26.5 billion, sources say FINANCE 27-08-2026 12:01 HKT Barclays expects China to broaden offshore wealth curbs, Hong Kong remains resilient FINANCE 25-08-2026 16:53 HKT Shein's up to US$1.8 billion Hong Kong IPO order book covered, sources say FINANCE 25-08-2026 14:39 HKT Shein’s acquisition of American clothing retailer Everlane is under US authorities’ review, Bloomberg reports FINANCE 24-08-2026 16:05 HKT Shein to pay up to US$3.5 billion to select pre-IPO investors around Hong Kong listing FINANCE 24-08-2026 12:04 HKT Shein's pursuit of an IPO: From New York to London to Hong Kong FINANCE 24-08-2026 11:05 HKT Fast fashion giant Shein to raise $13.86 billion in Hong Kong IPO FINANCE 24-08-2026 10:32 HKT Bernice Yuen crowned Miss Hong Kong 2026, Ada Tang named first runner-up ENTERTAINMENT 22 hours ago Nearly 98pc of Wang Fuk Court owners accept govt buyback offer ahead of Monday deadline NEWS 30-08-2026 17:03 HKT Canada to close 'lifeboat' permanent residency scheme for Hongkongers as scheduled end of Aug NEWS 29-08-2026 13:35 HKT Contact Us About Us Terms of Use Privacy Policy Statement Copyright Policy & License Ethics Statement | Subscriptions Print Advertising Digital Advertising Street Points Copyright © 2026 The Standard - A division of Sing Tao News Corporation Limited. All rights reserved.