EU hits Gucci, Chloe and Loewe with 157-mn-euro antitrust fines

Brussels, Belgium: The EU on Tuesday slapped luxury fashion brands Gucci, Chloe and Loewe with fines amounting to more than 157 million euros ($182 mi...

Brussels, Belgium: The EU on Tuesday slapped luxury fashion brands Gucci, Chloe and Loewe with fines amounting to more than 157 million euros ($182 million) for violating competition rules.

The fines come after the European Commission launched surprise raids on the companies in April 2023 and a formal antitrust probe in July 2024.

The commission said it has now imposed the fines because the three brands "restricted the ability of the independent third-party retailers they work with to set their own online and offline retail prices".

The EU's powerful antitrust watchdog said such anticompetitive behaviour increases prices and reduces choice for consumers.

The penalties were reduced for all three after they acknowledged their violations and cooperated with the commission.