Latest news with #InfiniteStyleE-CommerceCoLtd
Canada News.Net
06-07-2025
- Business
- Canada News.Net
Shein accepts 40 million euro French fine for fake price reductions
PARIS, France: Fast-fashion giant Shein has been fined 40 million euros by France's antitrust authority over deceptive discount practices that regulators say misled shoppers about the actual value of its deals. The fine follows a nearly year-long investigation into the company's pricing tactics. The French agency—responsible for both consumer protection and competition oversight—announced on July 3 that Infinite Style E-Commerce Co Ltd, which manages Shein's sales in France, had violated rules around discount transparency and accepted the penalty. Under French law, the reference price used to advertise a discount must be the lowest price offered by the retailer over the previous 30 days. Regulators found that Shein often ignored this rule, sometimes even raising prices before applying a discount, thereby inflating the perceived deal. The watchdog concluded that Shein's practices had "deceived consumers about the authenticity of discounts they could benefit from." The retailer, founded in China and now operating globally, responded by saying it had been informed of the breaches in March 2023 and had taken steps to address them within two months. "This means that all identified issues were addressed more than a year ago," Shein said in a statement, adding that ISEL remains committed to complying with French regulations. In addition to the pricing violations, the antitrust agency also cited breaches of environmental regulation, though it did not detail those in the fine announcement. Shein has faced growing scrutiny in Europe over its marketing tactics and environmental footprint, even as it gains popularity among young shoppers for its low-cost, trend-driven products.
Time of India
04-07-2025
- Business
- Time of India
France fines Shein 40 million euros for deceptive business practices
France's antitrust agency said on Thursday it had fined China-founded fast-fashion retailer Shein 40 million euros ($47.17 million) for alleged deceptive business practices including misleading discounts, following a nearly year-long probe. 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% of advertised deals were not, in fact, offering a lower price; 19% had less of a discount than advertised; and 11% were in fact price increases. In a statement, Shein said the antitrust agency had informed Infinite Style Ecommerce 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.
Extra.ie
03-07-2025
- Business
- Extra.ie
Shein fined millions in France
The Chinese online clothing giant Shein has been fined 40 million euros, following a year long investigation into alleged deceptive business practices in France The Antitrust Agency, which is responsible for consumer protection and competition in France, stated that 'Infinite Style E-Commerce Co Ltd', which handles sales for fast fashion giant Shein, had misled its customers about discounts as well as making 'vague environmental claims'. Pic:for SHEIN It said its investigation showed the company had 'deceived consumers about the authenticity of discounts they could benefit from,' because the price of goods a company says are discounted, must be the lowest one advertised during the previous 30 days. They say Shein broke this rule by not taking into account other previous offers and added that sometimes prices increased before a discount was applied. In a statement, Shein said the antitrust agency had informed them of the issues related to discounts and environmental claims last year and said they have since taken action to correct the issues in question. In a statement the fashion giant said all of the issues raised were rectified and added that Shein takes its legal and regulatory obligations in France very seriously.
Business of Fashion
03-07-2025
- Business
- Business of Fashion
France fines retailer Shein 40 million euros for misleading discounts
France's antitrust agency said on Thursday it had fined China-founded fast-fashion retailer Shein 40 million euros ($47.17 million) for alleged deceptive business practices including misleading discounts, following a nearly year-long probe. 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.
Business Times
03-07-2025
- Business
- Business Times
France fines retailer Shein 40 million euros for misleading discounts
[PARIS] France's antitrust agency said on Thursday (Jul 3) it had fined China-founded fast-fashion retailer Shein 40 million euros (S$60 million) for alleged deceptive business practices including misleading discounts, following a nearly year-long probe. 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 Oct 1, 2022 and Aug 31, 2023, found 57 per cent of advertised deals were not, in fact, offering a lower price; 19 per cent had less of a discount than advertised; and 11 per cent were in fact price increases. In a statement, Shein said the antitrust agency had informed Infinite Style Ecommerce Co (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. REUTERS
