Shein shares fall 10% amid urgent recall of contact-lens cleaner by Australia, New Zealand
Shein's Hong Kong-listed shares fell as much as 10%, amid news that a contact lens product has been recalled urgently due to worries of contamination.
TL;DR
- Shein shares fell as much as 10% in Hong Kong.
- A Shein contact lens product was recalled by Australia and New Zealand due to bacterial contamination.
- The contamination, Burkholderia cepacia complex, was found in the lens solution and poses a risk of eye infection.
- An incident involving an eye infection was reported in the UK.
- This recall follows Shein's shaky IPO debut in Hong Kong.
- Shein faces challenges from tariffs, regulatory changes, and increasing criticism of its business model.