Shein tightens compliance controls after major fines over privacy, discounts, and greenwashing

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Shein, the fast-fashion giant, is overhauling its internal governance after a string of regulatory fines across Europe for data privacy breaches, misleading discounts, and greenwashing, according to company memos, investor letters, and sources familiar with the matter.

In a letter to investors reviewed by Reuters, Executive Chairman Donald Tang said Shein has launched a “Business Integrity Group” to unify compliance, governance, and external affairs functions, while expanding its internal audit capacity to strengthen corporate discipline.

Over the past three months, the company has been fined €150 million ($175 million) in France for data violations, €40 million for deceptive pricing practices, and €1 million in Italy for greenwashing claims. Shein is appealing the largest fine, but faces further scrutiny from an ongoing EU product safety investigation.

The Singapore-headquartered firm — which ships from factories in China to over 150 countries — is also rolling out stricter compliance frameworks in the U.S., Canada, Brazil, and Mexico as part of a global pilot program. Job postings show new audit and risk management roles in Los Angeles to reinforce oversight.

Tang admitted in the August 25 letter that Shein faces “heightened political and regulatory headwinds” in Europe and tariffs in the U.S., which have slowed growth. Coresight Research projects Shein’s U.S. revenue will rise 20.1% in 2025, down sharply from 50% growth this year, while Europe is expected to surpass the U.S. for the first time.

Shein’s compliance revamp follows mounting criticism of its opaque governance, copyright issues, and environmental standards — with a French OECD agency finding it noncompliant with global responsible business guidelines.

Serve Robotics partners with DoorDash to expand autonomous food deliveries

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Serve Robotics, a San Francisco-based delivery robot company, has announced a new partnership with DoorDash, marking its expansion beyond its long-standing collaboration with Uber Eats. The deal will see Serve’s sidewalk robots begin handling food deliveries in Los Angeles, with plans to extend across the U.S., the company said Thursday.

Following the announcement, Serve’s shares surged more than 25%, reaching their highest level in eight months. The partnership allows Serve to access DoorDash’s vast network of restaurants and customers, significantly increasing the volume of orders available for its autonomous delivery fleet.

“This partnership enables us to go to cities where DoorDash is the dominant player,” said Serve CEO Ali Kashani, noting that the company now has a large enough fleet to serve multiple delivery platforms efficiently. He added that revenues will grow as the partnership scales to match Serve’s existing Uber Eats operations.

Serve’s robots have already completed over 100,000 deliveries across cities including Los Angeles, Miami, Chicago, and Atlanta, handling orders from more than 2,500 restaurants. The expansion with DoorDash strengthens its position in the rapidly growing autonomous last-mile delivery market, which companies are turning to in order to cut labor costs and speed up service.

DoorDash recently unveiled its own delivery robot, Dot, and continues to explore automation through partnerships with Alphabet’s Wing for drone deliveries.

India sidesteps crypto and stablecoins at world’s largest fintech summit

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At India’s massive fintech conference in Mumbai, attended by over 100,000 participants and 800 speakers, two global financial buzzwords were conspicuously absent: cryptocurrencies and stablecoins. Despite Bitcoin’s record-breaking surge past $125,000, the three-day event — headlined by the prime ministers of India and the U.K. — avoided any discussion of digital assets amid the government’s cautious regulatory stance.

A speaker document obtained by Reuters explicitly instructed participants to “avoid political, crypto, religious, or personal remarks”, underscoring India’s reluctance to embrace the sector. While economies like Japan, Hong Kong, and Singapore are racing to become crypto hubs, India remains hesitant, opting instead to spotlight its central bank digital currency, the e-rupee, and other fintech innovations.

The Reserve Bank of India showcased pilots for deposit tokenisation and fintech sandboxes, while companies like PayPal and Revolut unveiled new products tailored for the Indian market.

Experts say the policy vacuum is chilling innovation. “Regulators need an iterative approach instead of complete aversion to stablecoins,” said Joseph Sebastian of Blume Ventures, who suggested limited adoption through U.S. dollar stablecoin remittances.

India’s fintech funding fell to $3.5 billion in 2023, its lowest since 2020, as entrepreneurs increasingly incorporate overseas to escape regulatory uncertainty. “It’s becoming real whether we like it or not,” said Vivekdeep Gupta, a digital assets consultant.