Hong Kong flotation at $26bn by firm once valued at $100bn follows failure to list in US and UK

Shares in the fast-fashion brand Shein slumped by as much as 10% as the China-founded company made its long-anticipated trading debut on the Hong Kong stock exchange.

The Singapore-headquartered company, once valued at almost $100bn (£74bn), went public on Tuesday pricing shares at HK$48.56, valuing the business at just over $26bn.

Due to its ubiquity in fast fashion, gen Z are pushing back against the synthetic material and using it as an insult

In 2015, Kate Moss called an easyJet pilot a “basic bitch” and a catchy new insult meaning obvious and uncool hit the mainstream. Had it happened in 2026, Moss might have used the word “polyester”, reportedly gen Z’s new favorite diss, levied at cheap-looking videos on TikTok, and sometimes at other users’ taste.

But its use as a figurative insult also echoes a literal backlash against polyester, now the most-produced synthetic fibre on the planet.