 |
Photo = Gucci |
[Alpha Biz= Kim Jisun] Brussels, October 14 — The European Commission has imposed heavy fines on luxury brands Gucci, Chloé, and Loewe for restricting retailers’ ability to set prices, offer discounts, and manage online sales.
According to the Commission’s statement, Gucci was fined €119.67 million, Chloé €19.69 million, and Loewe €18.01 million for violating EU competition rules.
From 2015 for Gucci and Loewe and 2019 for Chloé, the brands allegedly prohibited temporary discounts, limited online sales, and restricted retail pricing to maintain a luxury image and high-end market positioning. These practices constituted resale price maintenance (RPM) — a form of vertical price-fixing in which suppliers dictate retail prices to downstream distributors — and were deemed anti-competitive under EU law.
Following on-site inspections in April 2023, the three companies ceased the practices and cooperated with the investigation, leading to fine reductions of 15–50%.
Gucci’s parent company Kering Group said it had resolved the matter in cooperation with the Commission and reflected the financial impact in its 2024 first-half earnings. Loewe’s parent LVMH Group also pledged to “strictly comply with antitrust regulations.”
Global media outlets including Reuters and the Financial Times noted that the case signals the European Union’s increasingly assertive antitrust enforcement and a potential shift in distribution practices across the luxury industry.
알파경제 Kim Jisun (stockmk2020@alphabiz.co.kr)
