The European Commission has accused Gucci, Chloe, and Loewe of colluding to maintain inflated prices through aggressive tactics against retailers, violating EU competition laws and harming consumers.
According to the Commission, the luxury brands conspired to ensure that prices remained high by exerting pressure on retailers to adhere to agreed-upon pricing structures. This practice is a breach of EU competition rules, which are designed to prevent anti-competitive behavior that could harm consumers. The Commission is investigating the extent of the alleged conspiracy and is seeking to determine the potential fines that the companies may face.
The companies have not yet commented on the allegations, but the investigation could have significant financial and reputational implications for the brands. If found guilty, the brands may be required to pay substantial fines, which could impact their financial statements and stock performance. The incident highlights the ongoing efforts by regulatory bodies to enforce fair market practices in the luxury fashion industry.