In 2025, we were fined by DGCCRF, which oversees both competition and consumer protection in France, in relation to our historical pricing display and environmental claims and this matter has since been resolved in July 2025 through a settlement involving a fine of EUR 40 million.
Risk Factors · 第 82 页
In 2025, we were fined by DGCCRF, the French authority which oversees both competition and consumer protection in France, in relation to our historical pricing display and environmental claims, and this matter has since been resolved through a settlement involving a fine of EUR 40 million completed in July 2025.
In addition, in June 2026, DGCCRF imposed administrative fines totalling approximately EUR 22.5 million on two of our subsidiaries in connection with deficiencies identified in our order confirmation practices, the exercise of consumer withdrawal rights, product traceability disclosures and environmental information disclosures relating to synthetic textile products.
Risk Factors · 第 83 页
We disagree with this decision, believe the fines to be manifestly disproportionate, and are in the process of contesting both sanctions.
The Consumer Protection Cooperation Network of EU national consumer authorities (the “CPC Network”) initiated a formal investigation against us, in which the CPC Network requested us to provide information related to our consumer return, discounting and other practices, and we have responded to the CPC Network within the requested timeline and have made commitments to, and taken, corrective actions.