A European Commission today fined luxury fashion brands Gucci, Chloé and Loewe 157 million euros for limiting the resale prices of clothing, footwear and accessories for eight years.
“The European Commission has fined fashion companies Gucci, Chloé and Loewe for fixing resale prices in violation of European Union competition rules. The Commission’s investigation revealed that the three companies restricted the ability of the independent retailers they work with to set their own selling prices, both online and in-store, for products designed and sold under their respective brands.”, announced the institution in a statement.
“This type of anti-competitive behavior increases prices and reduces consumer choice”, says Brusselsexplaining that the total fine of 157 million euros already has a reduction due to the cooperation of fashion companies based in Italy, France and Spain selling luxury fashion products.