On the sixth floor of LE BHV MARAIS, the SHEIN space, a low-cost fashion brand known for its affordable collections and extensive online range, displays mannequins, clothing racks, and signage dedicated to women’s, men’s, children’s, and plus-size lines within a bright retail setting in Paris, France, on August 1, 2026. SHEIN, la mode pour tous. (Photo by Riccardo Milani / Hans Lucas / AFP via Getty Images)
Riccardo Milani | Afp | Getty Images
Shares of fast-fashion company Shein fell as much as 10% in Hong Kong, amid news that one of its contact lens products has been recalled by Australia and New Zealand.
“A sample of these contact lenses tested positive for Burkholderia cepacia complex, a bacterial contaminant detected in the solution in which the lenses were packaged,” according to a statement by New Zealand’s Ministry of Business Innovation & Employment on Friday.
“Exposure to this bacterium may pose a risk of eye infection or irritation and an incident was reported in the United Kingdom involving a user who developed an eye infection,” it added.
The Australian Competition and Consumer Commission issued a similar recall.
Shein
The news come following the fast fashion retailer’s shaky debut in Hong Kong earlier this month. While Shein rose to prominence with low-price clothing and new designs brought to the market quickly, its low-cost model in Europe and the U.S. has been challenged by tariffs and regulatory changes.
Shein will need to redefine its value proposition beyond “low prices and constant novelty,” including by curating its marketplace offerings and developing services, Marguerite LeRolland, senior global insight manager for fashion at market intelligence company Euromonitor International, told CNBC earlier this month.
LeRolland also said Shein needs to improve its brand image as regulators and public opinion become increasingly critical of the company.”
Shein’s Hong Kong-listed shares were 9.49% lower at HK$36.26.
—CNBC’s Jenny Lee contributed to the report.
