China-founded online retailer Shein has disclosed a Federal Trade Commission (FTC) investigation that could soon require significant payments as its U.S. sales fell by 14.3 percent and it moved toward a Hong Kong stock listing after earlier efforts in New York City 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 to $2 billion from $2.4 billion during the first three months of 2026. …
Shein Reveals FTC Investigation as US Sales Fall 14 Percent
