Gucci, Chloe and Loewe have been fined a total of 157 million euros ($182 million) by the European Union's antitrust watchdog for fixing the resale prices of their retail partners.
Kering PRTP.PA owned Gucci was fined 119.7 million euros, Chloé 19.7 million euros and Loewe 18 million euros, highlighting growing regulatory scrutiny of luxury groups.
"The three fashion companies interfered with their retailers' commercial strategies by imposing restrictions on them, such as requiring them to not deviate from recommended retail prices; maximum discounts rates; and specific periods for sales," the European Commission said in a statement on Tuesday.
Kering said the EU probe was resolved following a cooperation procedure with Gucci and the financial hit was provisioned in the group's 2025 first-half results.
LVMH's Loewe also confirmed the deal with the EU and pledged to operate "in strict compliance with antitrust laws". LVMH LVMH.PA is due to report third-quarter sales later.
Richemont CFR.S, which owns Chloe, did not immediately reply to a request for comment on the EU fine.
The practices deprived retailers of pricing independence and reduced competition while protecting the brands' own sales channels from retailer competition, the Commission said.
Brands including Armani, Dior, Loro Piana and recently Tod's have also come under pressure from Italian authorities about alleged worker abuse in their supply chains.
Meanwhile, recent breaches of protected client data at some companies have added to regulatory problems facing the sector.
Millions of people in Britain are struggling to afford basic necessities, with a new report warning that the number living in the deepest levels of po...
American rapper Ye, formerly Kanye West, has apologised for his past antisemitic remarks in a full-page Wall Street Journal ad, attributing his behavi...
Russian drones and missiles knocked out power in Kharkiv late Monday, while 23 people were wounded and an energy facility damaged in an overnight atta...
India and the European Union have finalised a long-pending trade deal, both sides said on Tuesday, calling it the “mother of all deals” as they se...
The Trump administration has signalled to Ukraine that U.S. security guarantees depend on Kyiv agreeing to a peace deal likely requiring it to cede th...
High-level diplomatic consultations were held in Istanbul, Türkiye, on Monday as Ankara seeks to solidify the fragile progress of the Gaza ceasefire and accelerate the delivery of life-saving assistance to the strip.
France’s National Assembly has approved a bill banning access to social media for children under 15, a move backed by President Emmanuel Macron and the government as part of efforts to protect teenagers’ mental and physical health.
A routine military training exercise turned into a major recovery mission this week after a catastrophic mudslide swept through a hillside in West Java, Indonesia.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 27 January, covering the latest developments you need to know.
Minnesota Governor Tim Walz has activated the state’s National Guard following the fatal shooting of a U.S. citizen in Minneapolis, an incident that has triggered protests and intensified tensions between state and federal authorities.
Venezuela’s interim president Delcy Rodriguez said on Sunday the country should not fear pursuing energy ties with the United States, as Caracas seeks to expand oil and gas production and attract foreign investment.
Iran’s Foreign Ministry has strongly rejected a U.S. magazine report on the death toll during January unrest. Nationwide protests erupted in response to soaring inflation and a national currency crisis.
A mosaic portrait of Pope Leo XIV was illuminated on Sunday at the Basilica of St. Paul Outside the Walls in Rome, continuing a centuries-old Vatican tradition marking the election of a new pope.
Libya signed a series of multilateral agreements with international and regional partners, including Türkiye, aimed at boosting energy production, accelerating investment and deepening cooperation in the energy sector on Saturday.
Millions of people in Britain are struggling to afford basic necessities, with a new report warning that the number living in the deepest levels of poverty has reached a 30-year high, driven by soaring housing costs and rising child poverty.
India and the European Union have finalised a long-pending trade deal, both sides said on Tuesday, calling it the “mother of all deals” as they seek to hedge against uncertainty in U.S. trade ties.
The Trump administration has signalled to Ukraine that U.S. security guarantees depend on Kyiv agreeing to a peace deal likely requiring it to cede the Donbas region to Russia, the Financial Times reported on Tuesday.
France’s National Assembly has approved a bill banning access to social media for children under 15, a move backed by President Emmanuel Macron and the government as part of efforts to protect teenagers’ mental and physical health.
Russian drones and missiles knocked out power in Kharkiv late Monday, while 23 people were wounded and an energy facility damaged in an overnight attack on Odesa, officials said.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment