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France fines Boohoo £2m for fake discounts on 95% of promotions
French regulators found 95% of Boohoo's promotions misleading, with 48% actually increasing prices. Shares fell 2.4% on the £2m fine.
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France fined Boohoo £2 million after its consumer watchdog found that 95% of the retailer's promotions were misleading, with nearly half actually raising prices.
The Directorate-General for Competition, Consumer Affairs and Fraud Control said Boohoo exaggerated savings on its French website. Of the promotions analyzed, 40% did not represent a genuine price reduction. Seven percent offered a smaller saving than advertised. In 48% of cases, the supposed promotion resulted in a price increase.
The regulator also found Boohoo violated French product labeling rules by using terms including "leather" and "suede" to describe items made from synthetic materials. The violations covered October 2023 through February 2024.