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,

The Paris competition office found 11% of the ultrafast-fashion retailer's advertised discounts it checked were actually price increases.

Regulators found the fast-fashion retailer, which is facing multiple probes, also made unjustifiable environmental claims