The European Union accused fast-fashion retailer Shein of breaching consumer protection laws through deceptive practices such as fake discounts, misleading sustainability claims, and pressure-selling tactics. According to the BBC, the EU gave Shein one month to respond or face fines based on its sales across member states. Investigators found violations including false product labels, hidden contact information, and price reductions not based on previous prices. A Shein spokesperson said the company aims to provide European consumers with a safe, reliable, and enjoyable shopping experience. The company also faces scrutiny over alleged labor abuses and sourcing transparency issues.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02European Union accused fast fashion retailer Shein of breaching consumer protection laws
00:06through deceptive practices such as fake discounts, misleading sustainability claims,
00:11and pressure-selling tactics. According to the BBC, the EU gave Shein one month to respond or
00:16face fines based on its sales across member states. Investigators found violations including
00:21false product labels, hidden contact information, and price reductions not based on actual previous
00:26prices. Shein's spokesperson said the company aims to provide European customers with a safe,
00:32reliable, and enjoyable shopping experience. The company also faces scrutiny over alleged
00:36labor abuses and sourcing transparency issues. For all things money, visit Benzinga.com slash GSTV.