The European Commission on Tuesday announced that it has fined luxury brands Gucci, Chloe and Loewe more than €157 million ($182.5 million) for violating EU competition rules.

The Commission said the brands had "restricted the ability of independent third-party retailers they work with to set their own online and offline retail prices" by dictating minimum sales prices for their products.

Further, the Commission said the anti-competitive behavior engaged in by the companies led to higher prices and less choice for consumers.

Fashion brands accused of price fixing 

"The three fashion companies interfered with their retailers' commercial strategies by imposing restrictions on them, such as requiring them to not deviate from recommended retail prices; maximum discounts rates; and specific periods for sales," the Commission said in a statement. 

Gucci-owner Kering, a French multinational holding with €17.2 billion in reported revenue in 2024, said the EU probe was resolved in close cooperation between the brand and the Commission and that the financial penalty had already been ledgered into the group's 2025 first-half results.

Richemont, the Swiss holding that owns Chloe; and LVMH, the owner of Loewe, has not commented on the Commission's decision.

Richemont, which has investments in everything from jewelry to firearms, reported €19.5 billion in annual revenue in 2023.

French luxury goods conglomerate LHVM reported €84.7 billion in 2024 revenue.

Edited by: Wesley Rahn