Senate Commerce Chair Maria Cantwell said she’s considering holding a public hearing on TikTok and social media following a classified briefing Wednesday.
US retail sales are expected to rise as much as 3.5 percent this year, a slower pace than 2023.
The statement comes after a report that the brand was mulling succession plans.
Thousands were arrested or threatened with detention following demonstrations over changes to the country’s minimum wage for garment workers last fall.
The Chinese-owned e-commerce platform reported revenue of 88.9 billion yuan ($12.4 billion) in the December quarter.
The stock dropped as much as 14 percent in early Paris trading, wiping more than €7 billion ($7.6 billion) from its market value.
The CVC Capital Partners-backed firm priced its shares at €26 each. The stock is set to start trading on March 21.
Congressman Robert Garcia sent a letter Friday to Loro Piana Chairman Antoine Arnault and chief executive Damien Bertrand demanding the company provide written answers to Congress by the end of April.