The European Commission fined the fashion houses Gucci, Chloé, and Loewe over €157 million for resale price fixing, a violation of EU competition rules.
The European Commission’s investigation found that the three companies “restricted the ability of independent retailers with which they collaborate to independently set prices for the fashion houses’ products,” the document stated.
“This anticompetitive behavior leads to higher prices and limited choice for consumers. The total amount of the fines exceeds €157 million,” the European Commission said in a statement.