US Edition
Published • loading... • Updated
EU fines Gucci, Chloe and Loewe for fixing resale prices
The European Commission fined Gucci, Chloé, and Loewe for restricting retailers’ pricing freedom, leading to higher prices and less choice, with Gucci fined €119.7 million.
- The European Commission fined luxury fashion brands Gucci, Chloe and Loewe over €157 million for violating EU competition rules by restricting retailers' pricing abilities.
- The Commission stated the brands dictated minimum sales prices for products, leading to higher prices and less consumer choice.
- Kering, owner of Gucci, said the penalty was accounted for, while Richemont and LVMH, owners of Chloe and Loewe respectively, did not comment.
Insights by Ground AI
58 Articles
58 Articles
Total value of EUR 157 million already accounts for a reduction in the cooperation of fashion companies established in Italy, France and Spain
·Portugal
Read Full Article
EU Commission slaps three major fashion brands with €157 million fine
An investigation launched in 2023 revealed that Gucci, Chloé and Loewe imposed their own pricing policies on retailers, thereby increasing product prices and reducing consumer choice. Gucci was hit the hardest, with a fine of €119 million.
·France
Read Full ArticleCoverage Details
Total News Sources58
Leaning Left9Leaning Right3Center12Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 38%
C 50%
12%
Factuality
To view factuality data please Upgrade to Premium
