A Paris appeals court upheld the €40m fine imposed in 2006 by the French competition watchdog
Perfume giants including Chanel, Christian Dior and L’Oreal have been fined a total of €40m by a French court for price fixing, according to newswire reports.
A Paris appeals court upheld the fine imposed in 2006 by the French competition watchdog, reported the Associated Press.
The court held that the companies involved had reached illicit agreements to keep prices high, which were backed up by threats.
Thirteen leading perfume and luxury goods companies were fined, including: Jean-Paul Gaultier, Issey Miyake, Chanel, Clarins Fragrance Group, Hermes, Christian Dior, Clinique, Estee Lauder, Guerlain, L’Oreal, LVMH Fragrance Brands, Sisheido Europe and YSL.
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