EU fines fashion brands Gucci, Chloe, Loewe over $182M for 'anticompetitive practices' Related news
Tamara Ceaikovski
ISTANBUL The European Commission said Tuesday that it fined luxury fashion brands Gucci, Chloe and Loewe over €157 million ($182 million) for violating competition rules by setting prices in agreement. The European Commission said its investigation revealed that the three companies "restricted the ability of the independent third-party retailers they work with to set their own online and offline retail prices." It said the negotiated price adjustments increased prices and reduced consumer
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