The European Commission has fined fashion companies Gucci, Chloé and Loewe for more than 157 million euros
The European Commission has fined fashion companies Gucci, Chloé and Loewe for setting resale prices, which is a violation of EU competition rules. This was reported to by the press service of the EU executive body.
"The Commission's investigation found that the three companies restricted the ability of independent third-party retailers with whom they partner to set their own online and offline retail prices for goods designed and sold by Gucci, Chloé and Loewe under their respective brands," the statement reads.
The European Commission noted that such anticompetitive behavior raises prices and narrows consumer choice. This practice for all three fashion companies stopped in April 2023, when the Commission conducted unannounced inspections.
Fines totaled more than 157 million euros.
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