EU fines Gucci, Chloe and Loewe for fixing resale prices

Gucci, Chloe and Loewe have been fined a total of 157 million euros ($182 million) by the European Union's antitrust watchdog for fixing the resale prices of their retail partners. Kering owned Gucci was fined 119.7 million euros, Chloé 19.7 million euros and Loewe 18 million euros, highlighting growing regulatory scrutiny of luxury groups. "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 European Commission said in a statement on Tuesday. Kering said the EU probe was resolved following a cooperation procedure with Gucci and the financial hit was provisioned in the group's 2025...