"The European Commission on Tuesday announced that it has fined luxury brands Gucci, Chloe and Loewe more than 157 million ($182.5 million) for violating EU competition rules. The Commission said the brands had "restricted the ability of independent third-party retailers they work with to set their own online and offline retail prices" by dictating minimum sales prices for their products."
""The three fashion companies interfered with their retailers' commercial strategies by imposing restrictions on them, such as requiring them to not deviate from recommended retail prices; maximum discounts rates; and specific periods for sales," the Commission said in a statement. Gucci-owner Kering, a French multinational holding with 17.2 billion in reported revenue in 2024, said the EU probe was resolved in close cooperation between the brand and the Commission and that the financial penalty had already been ledgered into the group's 2025 first-half results."
"Gucci-owner Kering, a French multinational holding with 17.2 billion in reported revenue in 2024, said the EU probe was resolved in close cooperation between the brand and the Commission and that the financial penalty had already been ledgered into the group's 2025 first-half results. Richemont, which has investments in everything from jewelry to firearms, reported 19.5 billion in annual revenue in 2023. French luxury goods conglomerate LHVM reported 84.7 billion in 2024 revenue."
The European Commission fined Gucci, Chloe and Loewe more than 157 million ($182.5 million) for breaching EU competition rules by restricting retailers' pricing autonomy. The companies imposed minimum sales prices and other constraints that prevented independent third-party retailers from setting online and offline prices. The practices included prohibitions on deviating from recommended retail prices, caps on maximum discounts and mandated sale periods. The Commission concluded the conduct led to higher prices and fewer choices for consumers. Kering stated the probe was resolved cooperatively and the penalty was accounted for in its 2025 first-half results. Richemont and LVMH did not comment.
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