US security panel reviews Shein's $80 million purchase of Everlane

U.S. regulators have begun a national-security assessment of Shein Global Holdings' $80 million acquisition of Everlane, an American clothing retailer that handles U.S. consumer data. The Committee on Foreign Investment in the United States, an inter-agency body overseen by the Treasury Department, started the review after the transaction was completed in May, according to sources familiar with the process. Unlike most deals, Shein voluntarily triggered the review after the fact, a rare move that may help secure a smoother clearance.

The panel will determine whether the purchase poses any threats to U.S. security and can approve, impose conditions on, or block the deal. Shein, which still operates heavily in China despite moving its headquarters to Singapore, said it is committed to complying with all applicable regulations. The Treasury Department has not commented, and CFIUS reviews are typically confidential.