The EU on Tuesday imposed fines totalling more than €157 million (Rs 1,613 crore) on luxury fashion brands Gucci, Chloe, and Loewe for breaching competition rules.
The fines follow surprise raids carried out by the European Commission on the companies in April 2023 and a formal antitrust investigation launched in July 2024.
The Commission said it had imposed the fines because the three brands “restricted the ability of the independent third-party retailers they work with to set their own online and offline retail prices.”
The EU’s powerful antitrust watchdog stated that such anticompetitive behaviour increases prices and reduces choice for consumers.
The penalties were reduced for all three companies after they acknowledged their violations and cooperated with the Commission.
Brussels fined Kering-owned Italian label Gucci, the largest of the three companies, €119.7 million (Rs 1,229) for infringements between April 2015 and April 2023.
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