Four of the world’s largest fragrance companies are under investigation by the Swiss competition authorities (COMCO). They are suspected of illegal price-fixing and stifling their competitors.
In a press release, the Swiss competition authorities (Comco) state that they have certain indications that several companies in the fragrance sector have violated antitrust laws. The four companies involved in the investigation are Firmenich, Givaudan, International Flavors & Fragrances and Symrise.
“There are suspicions that these companies have coordinated their pricing policies, prevented their competitors from supplying specific customers and restricted the production of certain perfumes,” explains the Comco in a statement.
According to this information, searches have been conducted at various sites. The searches were carried out after consultation with other competition authorities, namely the European Commission, the US Department of Justice Antitrust Division and the UK Competition and Markets Authority. In total, four competition authorities are involved in the investigation and are conducting extensive research.
“In the course of the investigation, it will be examined whether there are indeed restrictions of competition prohibited by antitrust law,” adds the Comco, while recalling that the presumption of innocence applies to companies.
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