Gucci, Chloé and Loewe over 157 million euros (nearly $183 million) for anti-competitive practices restricting independent retailers’ ability to set prices for their luxury goods.
The commission said the companies’ fixing of resale prices breached the bloc’s competition rules, and harmed consumers.
“The decision sends a strong signal to the fashion industry and beyond that we will not tolerate this kind of practice in Europe, and that fair competition and consumer protection apply to everyone, equally,’’ Commission Vice President Teresa Ribera said in a statement on Tuesday.
Gucci owner Kering acknowledged the decision “related to past commercial practices” and said in a statement that “a cooperative procedure” allowed “for a swifter resolution of the case.” Gucci’s fine was cut in half to nearly 120 million euros for its cooperation revealing additional breaches, the commission said. Kering said funds were set aside for the fine in the first-half of 2025.
Chloé owner Richemont and Loewe owner LVMH did not immediately respond to requests for comment. Loewe’s fine was halved to 18 million euros for its cooperation and Chloé’s fine was reduced by 15% to nearly 20 million euros.
