+ Follow us On Google

The European Union on Tuesday, October 14, imposed fines collectively amounting to 157 million euros (approximately Rs 1,610.28 crore) on multiple luxury brands such as Gucci, Chloe and Loewe. The fine was imposed on these brands after the EU’s antitrust watchdog found them in breach of the existing competition rules and market regulations.

In April 2023, the European Commission carried out raids on these companies and a formal antitrust investigation was launched in July 2024.

Top Luxury Brands Fined For Fixing Prices For Retailers

In a probe by the EU authorities, the luxury brands were found fixing resale prices for their retail partners and imposing restrictions on discounts, among other violations of the existing competition rules.

“The three fashion compa

See Full Page