France fines retailer Shein 40 million euros for misleading discounts
The agency, in charge of consumer protection as well as competition, said Infinite Style E-Commerce Co Ltd, which handles sales for the Shein brand, had misled customers about discounts, and that the company had accepted the fine.
Under French regulations, the reference price for any discount is the lowest one given by a retailer during the 30 days preceding the offer. Shein infringed that rule by not taking into account previous offers, and sometimes increasing the price before applying a discount, the agency said.
It said its investigation showed the company 'deceived consumers about the authenticity of discounts they could benefit from.'
The probe, conducted across thousands of products on Shein's French site between October 1, 2022 and August 31, 2023, found 57 percent of advertised deals were not, in fact, offering a lower price; 19 percent had less of a discount than advertised; and 11 percent were in fact price increases.
In a statement, Shein said the antitrust agency had informed Infinite Style E-commerce Co Ltd (ISEL) of breaches related to reference price and environmental regulations in March last year, and ISEL had taken corrective action within the following two months.
'This means that all identified issues were addressed more than a year ago,' Shein said, adding that ISEL was committed to complying with French regulations.
By Makini Brice, Helen Reid; Editors: Charlotte Van Campenhout, Susan Fenton, Bernadette Baum
Learn more:
Shein to File Confidentially for Hong Kong IPO, Sources Say
Shein aims to submit the filing confidentially as soon as this week, a source familiar with the matter told Reuters. A second source said the filing was expected to be made by Monday.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
32 minutes ago
- Yahoo
Apple's China iPhone Sales Finally Turn Positive
You know how Apple's been wrestling with flat iPhone (NASDAQ:AAPL) sales in China for the past couple of years? Well, that streak finally ended in Q2 2025, with Counterpoint Research reporting an 8% year-over-year bump. Warning! GuruFocus has detected 4 Warning Sign with VWAGY. The real catalyst? Apple's well-timed price cuts in Mayright before China's massive 618 shopping festivaland strong demand for the new iPhone 16 Pro and Pro Max. Interestingly, while the overall 618 festival volumes didn't budge much compared to last year, most of the growth happened in May. That's when three of Apple's iPhone models stormed into the top half of the bestseller charts. No wonder Apple shares popped over 2% early Thursdaythey've been down about 15% so far this year amid tariff threats and stiff competition. Speaking of rivals, Huawei isn't sitting idle. Counterpoint expects Huawei to overtake everyone in Q2, fueled by loyal customers swapping out older devices for its latest handsets. In other words, Apple's rebound is a big win, but the battlefield in China is more intense than ever. Bottom line: Apple showed it still knows how to play the premium handclever pricing, flagship models and perfect timing can move the needle, even in a market that's been stubbornly flat. Now the real test is whether this momentum sticks once the glow of 618 fades and Huawei fires back with its next launch. This article first appeared on GuruFocus. Sign in to access your portfolio
Indianapolis Star
38 minutes ago
- Indianapolis Star
Ralph Durrett hopes to create 'positive childhood experiences' for Indianapolis' youth
Jeremiah McCurty, 12, stood in front of his peers, demonstrating how to cut a zig-zag pattern into a potato, make homemade French fries and showcase how to handle a kitchen knife. These were skills he learned from a local chef while attending one of Indianapolis' summer youth programs. He even tries to find excuses at home to make his family food. Mostly to show them what he had learned earlier that day with Chef Debbie Williams. Before this summer, McCurty had never held a knife and lacked the confidence to be a center of attention among his peers. 'The program has been pretty fun,' McCurty said. 'I'm making friends and get to learn stuff – if I want – but I mostly get to have fun.' These are the kinds of stories that Ralph Durrett Jr., Indianapolis' chief violence prevention officer, was hoping to hear after creating the city's new youth program. Durrett was hired with hopes of curtailing the city's growing problem of youth violence. It's an issue that is still a focus for many in the city, as just a week ago, Indianapolis police responded to a triple shooting near Monument Circle in which a 16-year-old boy was in connection with the shooting. In April 2024, IMPD announced it would begin enforcing the state's curfew law for minors to reduce youth crime. Under that law, a 16-year-old cannot be unaccompanied in public after 11 p.m. or before 5 a.m. on a weeknight. Durrett doesn't believe that harsher punishments are the best way to address this problem, even if many in the community would argue otherwise. More: Meet the man tasked with reducing violence among Indianapolis youth Durrett believed that it wasn't the right move to handle this problem. 'When we have the opportunity to create positive childhood experiences, we know that we can push them in a direction that moves them beyond the adverse circumstances they're experiencing,' Durrett said. 'This is perhaps the most important thing we can be doing for (kids) from the city's perspective. Being able to give young people a safe place where they can be themselves and provide them with enriching skill sets.' Durrett modeled the city's youth program after his childhood experience, where local leaders like Rev. Fred Dorsey created a haven for kids at the now-shuttered YMCA near 10th Street and Fall Creek Parkway North Drive. 'I'm not sure I would be standing where I am today if it weren't for (Dorsey) and the men that were at the YMCA who allowed us to be in that space,' Durrett said. 'It gave us the opportunity to be mentored by men who helped put our lives and my own on a different track direction.' "It's important to invest in the next generation to help kids escape violence," Durrett said. Durrett often visits youth-focused programs like Indianapolis' Summer in the City program or Kokomo's Urban Outreach. He also spends one day a week at the Marion County Youth Services Center, making connections with young people already in the justice system. 'We've been coming here in hopes of opening up minds and hearts. (We've been) pouring them with information about how they can further develop their lives,' said Dorsey. 'It's important for these kids to know that there is a chance for them to do more with their lives and that there is more to life than what we've been accustomed to.'
Wall Street Journal
38 minutes ago
- Wall Street Journal
China Exempts Some EU Brandy Makers From Antidumping Duty
China said it will impose levies on brandy products imported from the European Union while exempting major cognac makers that meet a price commitment, as Beijing navigates a complex relationship with Brussels amid heightened trade and geopolitical tensions. The move comes as China's foreign minister is touring Belgium, France and Germany this week in an effort to court European leaders as Beijing seeks to bolster ties with its trading partners amid a trade spat with Washington.
