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US security review of Shein's Evernline deal
American authorities are conducting a security review of the acquisition deal where "Shein" plans to acquire the American company "Everlane" for $80 million. This comes after the company submitted a request for approval of the deal last May. The investigation is focused on whether the acquisition poses a threat to U.S. national security, particularly regarding the protection of American citizens' personal data and sensitive information. This scrutiny arises in light of "Shein" moving its headquarters to Singapore and questions about data management and the impact of competition between Washington and Beijing. The Committee on Foreign Investment in the United States (CFIUS) has the authority to block or impose conditions on the deal based on the investigation's findings; the authorities are especially concerned with risks related to data collection and protection amid the ongoing tensions between the U.S. and China.
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