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Fast-fashion group Shein agrees to pay $100 million to settle US FTC probe
The payment equals 44% of Shein’s second-quarter profit as the retailer faces broader regulatory and tax pressure in the United States and Europe.
- On Friday, Chinese fast-fashion giant Shein agreed to pay $100 million to settle a Federal Trade Commission investigation into delivery delays and customer complaints.
- The FTC launched the investigation after receiving roughly 12,000 customer complaints regarding delivery delays and shipping issues since 2020.
- This settlement, equivalent to 44% of Shein's second-quarter profit, adds financial pressure to the retailer amid a broader regulatory crackdown in Europe.
- Shein said it "reached a constructive outcome with the FTC," though the company remains under investigation in Europe and faces a California lawsuit over pricing practices.
- App downloads fell 42% in Sept, while the company's valuation has dropped to $26.3 billion from a $100 billion peak, signaling market challenges.
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Shein to Pay $100 Million to Settle US FTC Investigation Into Fast-Fashion Business
Chinese fast-fashion company Shein has agreed to pay $100 million to settle a US Federal Trade Commission investigation concerning delivery delays and customer complaints. This settlement represents 44% of Shein’s profit for the second quarter and is part of a broader regulatory and tax scrutiny the company faces in Europe and the US. Shein, which […]
·Plovdiv, Bulgaria
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EXCLUSIVE: Fast-fashion group Shein agrees to pay $100 million to settle US FTC probe
Chinese fast-fashion giant Shein has agreed to pay $100 million to settle an investigation by the US Federal Trade Commission over delivery delays and other customer complaints, a source with direct knowledge told Reuters on Friday.
·London, United Kingdom
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Coverage Details
Total News Sources7
Leaning Left0Leaning Right2Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
C 60%
R 40%
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