European Commission imposed €157-million fine on luxury brands Gucci, Chloe and Loewe for anti-competitive practices. The companies interfered with their retailers' commercial strategies by imposing restrictions like requiring them not to deviate from recommended retail prices, maximum discount rates, and specific periods for sales. Fine follows surprise raids by the watchdog on the firms in 2023.
short by
Shristi Acharya /
08:52 pm on
14 Oct