Feb 1, 2024 - Business

Exclusive: Shein denies that it's under Chinese cybersecurity review

Photo by Christophe Archambault/AFP via Getty Images.

Fast fashion giant Shein is disputing a Wall Street Journal report that it's being investigated by Chinese cybersecurity regulators.

Why it matters: Such a probe, if legitimate, could slow Shein's U.S. IPO plans.

"The company is not under CAC investigation," a Shein spokesperson tells Axios, referencing the Cyberspace Administration of China.
The company previously hadn't commented on the WSJ report.

Zoom out: Shein is headquartered in Singapore and valued by VCs at $66 billion.

Shein doesn't sell to Chinese consumers. It does, however, have a lot of its products made in China, and was founded in Nanjing before later relocating its headquarters.
Axios previously reported that Chinese regulators did have questions about supply chain issues, but not about cybersecurity.