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Industry News

Luxury companies and distributors fined for illegal price ag

Source:NetWork Author:Jafon makeup brushes factory Addtime:2018-01-26 Click:

The Court of Appeal in Paris has confirmed fines of over €40m imposed on major French luxury perfumes companies and distributors for an illegal prices agreement between producers and distributors. The fines included €13.3m for LVMH, €12.8m for Marionnaud, €5.9m for LOréal and €8.3m for Sephora.

The fines were originally imposed as long ago as March 2006 by the then Competition Council (CdC) and totalled €45.4m.

The total confirmed by the appeal court amounts to just over €42m. The effect of the agreement was to increase prices for consumers by at least 3% between 1997 and 2000.