EU fines Gucci, Chloé, and Loewe for price fixing

The European Commission has imposed a joint fine of 157 million euros on luxury brands Gucci, Chloé, and Loewe for illegal price fixing with their retailers. Gucci, part of Kering, will receive by far the heaviest penalty of 119 million euros.

Signal to the sector

Between 2015 and 2023, the brands allegedly forced retailers to adhere to fixed sales prices and discounts, causing consumers to pay too much and limiting competition. They also dictated specific periods for sales. According to the European Commission, the three fashion companies interfered with the commercial strategy of their retailers.