China-founded online retailer Shein disclosed a Federal Trade Commission (FTC) investigation that could soon require significant payments as its U.S. sales fell 14.3 percent and it moved toward a Hong Kong stock listing after earlier efforts in New York and London stalled.
The investigation was among a series of legal and regulatory pressures detailed in Shein’s draft Hong Kong listing document, offering a rare look inside the privately held retailer whose low-priced clothing and other goods reach millions of American consumers.
Shein’s U.S. revenue fell from $2.4 billion to $2 billion during the first three months of 2026.
The company said U.S. tariff changes hurt sales during the second half of 2025 and the first quarter of this year….
Shein Reveals FTC Investigation as US Sales Fall 14 Percent
