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France fines Luxottica € 125 million for price abuse

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AFP

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July 22, 2021

French competition regulators said Thursday they fined Italian eyewear giants Luxottica € 125 million ($ 147 million) to force opticians on prices and other terms of sale.

Reuters

In a statement, Autorite de la Concurrence said that between 2005 and 2014, market leaders “imposed” retail prices on some of France’s most famous optical chains.

Luxottica manufactures and sells frames under licenses from top brands, including: Chanel, Ray-Ban Ralph Lauren, Also wrapped for banning online sales and discouraging special offers.

“The optician who ignored Luxottica’s message was subject to retaliation, including interruptions and delays in delivery and denial of supply for certain brands,” regulators found.

The company became known as Essilor Luxotica after merging with French lens maker Essilor in 2018.

Regulators said the luxury conglomerate LVMH imposed similar abusive restrictions on eyeglass distributors, which did not challenge the charges and were fined € 500,000.

Meanwhile, fashion house Chanel has also banned online sales by eyeglass retailers and has been fined € 130,000.

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France fines Luxottica € 125 million for price abuse

Source link France fines Luxottica € 125 million for price abuse

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