Fashion

Chinese online fashion giant Shein faces a “number problem” in Europe

Popular fast fashion retailer Shein, founded in China, has reportedly fallen victim to Europe's new online content regulations due to its burgeoning user base in Europe. The European Commission announced this on Friday, adding Shein to the growing list of tech giants subject to the Digital Services Act (DSA). According to a Reuters report, “China-founded fast fashion company Shein will have to comply with strict new EU rules on online content after its user numbers surpassed a key benchmark, joining around twenty other large technology companies already subject to the rules. , declared the European Commission on Friday April 26.
The DSA requires stricter moderation of content from “very large online platforms” (VLOPs) with more than 45 million monthly active users in the EU. Shein, with its recent increase to 108 million monthly users in the EU, now falls into this category.
The rules are getting tough for Shein
“Shein will have to comply with the strictest aspects of the DSA within four months,” the European Commission said, setting the company a deadline of August 2024. These stricter obligations include enhanced user protection measures, especially for minors, and robust strategies to combat illegal content and counterfeit products on their platform.
Shein has expressed its commitment to complying with the regulations. “We support the EU's objective of creating a safe environment online shopping environment and we are committed to playing our part,” said Leonard Lin, Shein’s global head of public affairs.
The move comes as Shein considers a possible IPO in the United States. The DSA itself became applicable across the EU in February 2024. Currently, sixteen technology companies, including major players like Amazon, Apple and Microsoft, are already subject to the DSA. Notably, the EU is also investigating social media platforms X and TikTok for potential violations.
Companies that fail to comply with the DSA could face significant fines of up to 6% of their global turnover.

Sources

1/ https://Google.com/

2/ https://timesofindia.indiatimes.com/technology/tech-news/chinese-online-fashion-giant-shein-gets-into-a-number-problem-in-europe/articleshow/109654183.cms

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