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.
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Former close aide to Keir Starmer admitted on Tuesday he was “wrong” to back the appointment of Peter Mandelson as ambassador to the U.S., amid mounting political pressure.
A pivotal trial that could shape the governance of artificial intelligence begins Tuesday in California, as Elon Musk and Sam Altman face off over OpenAI’s shift to a for-profit model.
Russia has significantly expanded its blacklist of European Union officials and figures banned from entering the country, in retaliation for Brussels’ newly approved 20th sanctions package against Moscow.
A 21-year-old man accused of planning a terrorist attack on a Taylor Swift concert in Vienna in 2024 has pleaded guilty in part, as his trial opened on Tuesday (28 April) in Austria.
Disney+ has debuted Disney Animation’s Songs in Sign Language, a new collection of animated musical sequences reimagined in American Sign Language (ASL), released on 27 April to mark National Deaf History Month.
Market reaction to DeepSeek’s preview of its next-generation artificial intelligence model has been relatively subdued, in sharp contrast to the global shock triggered by its breakthrough releases last year.
President Donald Trump said on Sunday Iran could telephone if it wants to negotiate an end to their two-month war. Tehran said the U.S. should remove obstacles to a deal, including its blockade of Iran's ports. Meanwhile Iranian Foreign Minister Abbas Araghchi arrives in St Petersburg for talks.
Adidas shares rose after Kenya’s Sebastian Sawe delivered a historic performance at the London Marathon on Sunday (26 April), becoming the first athlete to run an official marathon in under two hours.
Tensions between the United States and Iran remain high after a U.S. official said President Donald Trump was unhappy with a proposal from Tehran that does not deal with its nuclear programme. Washington is insisting that any talks must address Iran’s nuclear activities.
British lawmakers on Tuesday voted against launching an inquiry into whether Prime Minister Keir Starmer misled Parliament over his decision to appoint Peter Mandelson as ambassador to the U.S.
Five million children across Sudan’s Darfur region are facing extreme deprivation, the United Nations children’s agency said on Tuesday, issuing an emergency warning as the civil war in the country enters its fourth year.
Former close aide to Keir Starmer admitted on Tuesday he was “wrong” to back the appointment of Peter Mandelson as ambassador to the U.S., amid mounting political pressure.
Russia has significantly expanded its blacklist of European Union officials and figures banned from entering the country, in retaliation for Brussels’ newly approved 20th sanctions package against Moscow.
China is moving to make it easier and cheaper for people to have children, with lawmakers reviewing plans to expand maternity insurance coverage nationwide.
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