Shein Warns EU Fees and French Fast-Fashion Penalties Will Raise Prices for French Shoppers

Shein has issued a warning that upcoming European Union handling fees and French fast-fashion penalties could significantly increase costs for French consumers, potentially adding up to €12 more per order by 2030, a company spokesperson said Thursday.

Quentin Ruffat, Shein’s spokesperson in France, told Sud Radio that the proposed €2 per-package EU fee on direct e-commerce deliveries and additional national-level environmental penalties in France would disproportionately affect Shein’s low-cost model.

“Why tax us? Why not have a discussion, find a solution between public officials and e-commerce platforms?” Ruffat asked.

Background: EU and France Target Fast Fashion

  • The European Commission has proposed a €2 handling fee on low-value e-commerce imports outside the EU, most of which originate from China.

  • A reduced €0.50 fee would apply to parcels routed through EU-based warehouses.

  • Separately, France’s National Assembly passed a bill in March to penalize fast-fashion goods due to environmental concerns, with the intent of limiting overproduction and waste.

  • The EU also plans to end duty-free treatment for e-commerce packages under €150 starting in 2028.

Impact on Shein and Consumers

Shein, which relies heavily on direct-to-consumer, low-cost shipments, argues that the new policies:

  • Discriminate against platforms like Shein and Temu

  • Will erode affordability for consumers across Europe, particularly in France

  • Threaten to increase average order prices by up to €12 by 2030, Ruffat said

The measures are viewed by critics as targeting ultra-fast fashion models that contribute to environmental degradation, excessive returns, and labor concerns.

Policy Outlook

  • The handling fee proposal still requires approval from EU member states and the European Parliament.

  • France has already endorsed the policy, and is seen as a key player pushing for tighter rules on imported low-value goods.

The U.S. has already moved in a similar direction, scrapping its “de minimis” $800 duty-free threshold earlier this month.

As e-commerce regulation tightens globally, platforms like Shein are coming under mounting pressure to adjust logistics and environmental practices—or risk losing market competitiveness in high-consumption regions like Europe.

BIS Digital Currency Chief Cecilia Skingsley Steps Down Early for Swedish Government Role

Cecilia Skingsley, the head of the Bank for International Settlements (BIS) Innovation Hub, is stepping down two years before the end of her five-year term to return to Sweden for a government appointment, the BIS announced.

Skingsley, a former deputy governor of Sweden’s Riksbank, will become County Governor of Stockholm County next month. She began her role at the BIS in September 2022, leading its work on central bank digital currencies (CBDCs) and other fintech innovations.

Departure Comes Amid BIS Strategic Shift

Her departure coincides with broader structural changes at the BIS, ahead of incoming General Manager Pablo Hernández de Cos, who takes over in July. Reports earlier this year indicated plans to scale back the Innovation Hub, which had grown rapidly since its 2019 launch, expanding to seven global financial centers including London, Singapore, and Hong Kong.

“Under Skingsley, the Innovation Hub made great strides toward fulfilling our strategic goal of helping central banks face the challenges of the future,” said Agustín Carstens, the BIS’s current chief.

CBDC Landscape in Flux

Skingsley’s exit also follows increasing geopolitical tension around CBDCs. Notably, the BIS abruptly withdrew last year from a high-profile CBDC pilot project with China and other Asian central banks, raising questions about internal policy shifts and global alignment.

CBDCs remain a strategic frontier for central banks, with dozens of jurisdictions exploring digital versions of national currencies amid competition from private stablecoins and global digital finance trends.

Interim Leadership and Succession Plans

  • The BIS said Deputy General Manager Andréa Maechler, formerly of the Swiss National Bank, will serve as interim head of the Innovation Hub.

  • A formal recruitment process for Skingsley’s successor will be announced “in due course.”

Skingsley’s early exit may influence how central banks recalibrate their digital currency strategies in the face of evolving regulatory, technological, and geopolitical pressures.

Adtech Firm MNTN Raises $187.2 Million in U.S. IPO, Valued at $1.24 Billion

Marketing technology company MNTN and its investors raised $187.2 million in a U.S. initial public offering (IPO), the firm announced on Wednesday, pricing its shares at the top end of the marketed range at $16 apiece. The IPO sets the company’s pre-market valuation at approximately $1.24 billion.

The Austin, Texas-based firm, founded in 2009 by CEO Mark Douglas, specializes in performance marketing via on-demand television. Its flagship offering, Performance TV (PTV), launched in 2018, has seen customer growth of nearly 89% year-over-year for the first quarter of 2024.

Key IPO Details:

  • Shares sold: 11.7 million

  • Pricing range: $14–$16; final price: $16

  • Ticker: MNTN

  • Exchange: New York Stock Exchange

  • Funds expressing interest: BlackRock, up to $30 million worth of shares

  • Lead underwriters: Morgan Stanley, Citigroup, and Evercore

The IPO follows the market debut of eToro, which marked the first U.S. IPO after tariff concerns postponed multiple listings. MNTN’s listing was similarly delayed amid market downturns, including the recent “Liberation Day” volatility.

Company Snapshot

  • Founded: 2009

  • Headquarters: Austin, Texas

  • Product focus: Performance TV (PTV) marketing platform

  • Creative leadership: Actor Ryan Reynolds serves as Chief Creative Officer

  • Platform ad impact: Estimated $27.1 billion in revenue generated from 2019 to 2024 via ad performance

“This IPO is a validation of our approach to connecting brands with consumers through smarter television advertising,” CEO Mark Douglas said in a statement.

Ownership & Voting Power Post-IPO

  • CEO Mark Douglas retains 29.9% of Class B shares, equating to 26.3% voting power

  • Baroda Ventures, an early investor, holds 19.4% of voting power

MNTN’s IPO capitalizes on a rebounding financial market and shifting U.S. trade dynamics, which have provided a more favorable environment for public listings after a sluggish start to 2024.