Shein faces FTC probe in US operations

NEW YORK — Shein, the fast-fashion e-commerce giant, has disclosed that its US business is under formal investigation by the US Federal Trade Commission (FTC), warning that the outcome could materially impact its finances and growth plans linked to a planned Hong Kong initial public offering.

In a draft prospectus filed with the operator of the Hong Kong Stock Exchange, Shein said the FTC has been “conducting an investigation into our US business operations” and confirmed it is “actively cooperating” with regulators.