# The European Union has slapped luxury fashion brands Gucci, Chloe and Loewe with fines amounting to more than 3-billion-rand for fixing resale prices. The fines come after the European Commission launched surprise raids on the companies in April 2023. The commission said it has now imposed the fines because the three brands restricted independent retailers’ ability to set their own retail prices online and in stores. The EU’s powerful antitrust watchdog said such anticompetitive behaviour increases prices and reduces choice for consumers.
EU fines Gucci, Chloe and Loewe R3-billion for fixing resale prices