Reported 18 days ago
The European Union has imposed fines totaling 157 million euros ($182 million) on Gucci, Chloe, and Loewe for manipulating the resale prices of their retail partners. Kering-owned Gucci faced the largest fine of 119.7 million euros, followed by Chloe with 19.7 million euros and Loewe with 18 million euros. The EU's antitrust investigation revealed that these brands restricted their retailers' pricing strategies, which limited competition and undermined retailer pricing independence. The fashion groups have acknowledged the fines and pledged to adhere to antitrust laws moving forward.
Source: YAHOO