• The EU fined Gucci, Chloe, and Loewe a total of €157 million ($182 million) for price-fixing.
• Brands restricted retailers' pricing strategies, increasing consumer prices and limiting choice.
• Gucci was fined €119.67 million, Chloe €19.69 million, and Loewe €18 million.

The European Commission announced on October 14 that it has imposed fines totaling over €157 million ($182 million) on luxury fashion brands Gucci, Chloe, and Loewe for engaging in anticompetitive practices. The investigation revealed that the brands violated EU competition rules by restricting retailers' ability to set their own prices, both online and offline, according to Reuters, Le Monde, and Anadolu Agency.

The fines were imposed after a formal probe began following surprise inspections in April 2023, with evidence indicating that the brands had engaged in practices termed “fixing resale prices.” This included setting maximum discount rates and specific periods for sales, which collectively reduced consumer choice and inflated prices. Gucci, owned by Kering, was fined €119.67 million, while Chloe and Loewe received fines of €19.69 million and €18 million, respectively, according to Reuters, Le Monde, and Anadolu Agency.

All three companies acknowledged their violations, which led to a reduction in the fines due to their cooperation with the investigation. Gucci stated it had already provisioned for the financial implications in its reports, reflecting an acceptance of the EU's decision related to past commercial practices, as reported by Reuters and Le Monde.