Fast fashion retailer Shein has been fined €40 million ($47.17 million) by France’s antitrust watchdog for allegedly having misleading discounts and unclear environmental claims, despite the company’s claim that the issues were fixed a year ago.
Shein pledges to boost product safety checks and invest in compliance following EU pressure over unsafe items sold on its platform.
The European Union has warned fast-fashion giant Shein to comply with consumer protection laws or face possible fines, intensifying scrutiny of the online retailer’s business practices.
Shein says French consumers may face higher prices if the EU imposes handling fees and France enacts new penalties on fast fashion. The platform criticizes the lack of dialogue with authorities as pressure mounts on budget e-commerce models.
The European Union aims to introduce a €2 handling fee on low-value online shopping packages entering the bloc, targeting billions of cheap goods from platforms like Shein and Temu. The move seeks to cover the high costs of customs compliance and safety checks.
Temu and Shein's aggressive keyword bidding drives up search ad costs, impacting retailers this Black Friday. Rising "cost per click" pushes businesses to rethink strategies, shifting focus to social media, influencers, and high-value customer engagement.
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