France’s antitrust agency announced on Thursday that it fined fast-fashion retailer Shein €40 million ($47.17 million) for deceptive practices, including misleading customers about discounts and its environmental impact.

Shein has accepted the penalty, the regulator said.

The French competition and anti-fraud agency reported that its investigation revealed Shein engaged in “deceptive commercial practices towards consumers regarding… price reductions.”

The €40 million fine was issued with approval from the Paris prosecutor’s office.

The DGCCRF’s competition office said the nearly year-long probe found that Shein raised certain prices before applying discounts.

The agency added that the China-founded retailer had accepted the fine.

“These practices of greatly discounted prices and permanent promotions give consumers the impression they’re getting a great deal,” said the DGCCRF.

“If found that 11 percent of advertised discounts it checked “were actually price increases.”

In 57 per cent of cases, Shein’s advertised promotions offered “no price reduction,” while in 19 per cent of cases the price drop was “less significant than announced.”

In a statement to AFP, Shein said it took “without delay” the necessary corrective actions within two months of learning about the DGCCRF probe in March last year.