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Investing.com -- France’s antitrust agency fined fast-fashion retailer Shein €40 million ($47.17 million) on Thursday for deceptive business practices, following a probe that lasted nearly a year.
The fine was imposed on Infinite Style E-Commerce Co Ltd, which handles sales for the Shein brand.
According to the French regulator, the company misled customers about discounts and made vague claims about its environmental impact.
The China-founded retailer said in a statement that the antitrust agency had informed Infinite Style Ecommerce Co Ltd (ISEL) about issues related to discounts and environmental claims in March last year.
Shein noted that the company had taken corrective action within two months after being notified.
The antitrust agency also stated that the company had accepted the fine.
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