Reported 16 days ago
The European Commission has fined luxury brands Gucci, Chloé, and Loewe a total of €157 million for violating EU competition laws by restricting independent retailers' pricing freedom. From April 2015 to April 2023, these brands imposed resale price maintenance practices, limiting discounts and altering sales periods, which ultimately restricted competition and consumer choice. The fines, which were reduced due to cooperation with the investigation, highlight the crackdown on anti-competitive behavior within the EU market.
Source: YAHOO