ALL CHINESE RATS MUST DIE!

US investigates Shein

The US arm of Shein is under investigation by the Federal Trade Commission and may face significant financial penalties, the fast-fashion ecommerce platform disclosed in connection with its forthcoming flotation in Hong Kong. The company said, depending on the outcome of the investigation, it “may require us to make significant monetary payments that could have a material adverse effect on our financial condition and results of operations”. Shein, which attracted a valuation of nearly $100 billion in a 2022 fundraising round, did not say why it was under investigation.

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