BOOHOO GROUP PLCDEBS
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Fined $2.7m in France for misleading labelling and deceptive pricing.
Impact on stocks 1
Consumer Discretionary
BOOHOO GROUP PLCBoohoo has been fined $2.7 million in France for misleading product labelling and deceptive pricing on its website. The Directorate-General for Competition, Consumer Affairs and Fraud Control said the company mislabelled synthetic products as leather, faux leather, and suede, and failed to provide required composition information for textiles and footwear. The regulator also found that 40% of analysed promotions offered no genuine saving, 7% provided a smaller discount than advertised, and 48% represented a price increase. The Paris Public Prosecutor approved a criminal settlement requiring Boohoo.com UK to pay the fine, which it has done, and the company must display a compliance notice on its homepage for 30 days. A Boohoo spokesperson said the issues relate to October 2023 to February 2024 under previous management and are now resolved.
BOOHOO GROUP PLCFined $2.7m in France for misleading labelling and deceptive pricing.