Home Business News Fashion giant fined $45m by EU watchdog

Fashion giant fined $45m by EU watchdog

by Purvai Dua
17th Dec 18 12:47 pm

Guess has been fined €40m for illegally blocking cross-border sales in Europe, as part of a crackdown against illegal practices blocking e-commerce in the EU.

The European Commission stated that the retailer cooperated by providing key evidence and received a 50 percent cut in the fine.

Commissioner Margrethe Vestager, added: “Guess’ distribution agreements tried to prevent EU consumers from shopping in other member states by blocking retailers from advertising and selling cross-border. This allowed the company to maintain artificially high retail prices, in particular in Central and Eastern European countries”.

The investigation into the fashion chain began in June last year following a year-long inquiry into the cross-border online sales practices of 1,900 companies.

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