The European Commission on Tuesday fined Gucci, Chloé and Loewe €157 million for preventing their retailers from setting their own prices for products designed and sold by them, reducing competition and thus increasing tariffs and offering consumers less choice — actions in breach of EU antitrust laws.
“In Europe, all consumers, whatever they buy, and wherever they buy it, online or offline, deserve the benefits of genuine price competition,” European Commissioner for Competition Teresa Ribera said.
