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EU fines Gucci, Chloe, Loewe $182 million

The European Union has imposed fines totaling 157 million euros ($182 million) on luxury fashion houses Gucci, Chloe, and Loewe for violating antitrust rules. The European Commission found that the brands illegally restricted their retail partners’ pricing strategies, including setting fixed resale prices, limiting maximum discounts, and controlling sales timing. Gucci, owned by Kering, received the largest fine of 119.7 million euros ($139 million). Chloe, under Richemont, was fined 19.7 million euros ($22.9 million). LVMH-owned Loewe was fined 18 million euros ($20.9 million). The case highlights increasing regulatory scrutiny of the luxury sector.

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