Gucci has announced that it is fully cooperating with the European Commission’s antitrust authorities. The authorities are inspecting Gucci’s Italian premises as part of a sector-wide investigation into possible anti-competitive cartels and trade practices in several fashion companies and countries.
The good news is definitely not flowing at Gucci, Kering’s flagship company.
The luxury group revealed, via a press release dated 19 April, that Gucci’s Italian premises were being inspected by the European Commission’s antitrust authority, “as part of a preliminary investigation in the fashion sector in several countries and under the European Union’s competition rules”.
The European Commission itself had declared the day before, on 18 April, in a press release, that its teams, supported by the competition authorities concerned in each country, were carrying out “surprise inspections in several Member States”, “on the premises of companies active in the fashion sector”. But it did not specify which companies or countries the investigators had searched…
It expressed concern that “the companies concerned may have breached EU rules prohibiting cartels and restrictive business practices”.
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