The European Union imposed on Tuesday fines amounting to more than 157 million euros ($182 million) on luxury fashion brands Gucci, Chloe and Loewe for violating competition rules by fixing resale prices.
The fines come after the European Commission launched surprise raids on the companies in April 2023 and a formal antitrust probe in July 2024.
The commission said it has now slapped the fines because the three brands "restricted the ability of the independent third-party retailers they work with to set their own online and offline retail prices."
The EU's powerful antitrust watchdog said such anticompetitive behavior increases prices and reduces choice for consumers.
The penalties were reduced for all three after they acknowledged their violations and cooperated with the commission.
Brussels hit Kering-owned Italian label Gucci – by far the largest of the three companies – with a 119.7-million-euro fine for infringements between April 2015 and April 2023.
French house Chloe received a 19.7-million-euro fine for violations between December 2019 and April 2023.
And the EU slapped Spanish house Loewe, owned by French luxury group LVMH, with a fine worth 18 million euros for the infringement period between December 2015 and April 2023.
The EU said the companies "interfered with their retailers' commercial strategies," including by forcing them not to deviate from maximum discount rates and specific periods for sales.
In some cases, the three brands temporarily banned retailers from offering any discounts, the commission said, adding that the firms "acted independently of each other."
Kering said it "acknowledges" the EU's decision "related to past commercial practices at Gucci" and had prepared for a fine in its financial statements for the first half of 2025.
"The exposure is entirely covered," it added.
Loewe said it "reiterates its firm commitment to acting in strict compliance with competition law."
