European Commission fines Gucci, Chloé, and Loewe €157 million for setting resale prices

The European Commission has fined luxury fashion houses Gucci, Chloé, and Loewe a total of €157 million ($181.5 million) for fixing resale prices in violation of EU competition rules.

According to the Commission, this anti-competitive practice led to higher prices and limited consumer choice.

The three brands were found to have interfered in the commercial policies of their retailers by imposing restrictions on them.