Saturday, November 23, 2024

Fashion companies targeted in EU antitrust raids

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By Foo Yun Chee

BRUSSELS (Reuters) -European Union antitrust regulators on Tuesday raided some companies in the fashion sector in several EU countries, concerned they may have violated the bloc’s rules against cartels and restrictive business practices.

The European Commission, which acts as the competition enforcer in the 27-country EU, did not name the companies nor the countries in line with its policy.

It also sent requests for information to companies active in the same sector.

The Commission said the raids were not related to those carried out in the fashion industry last year nor to the 2021 raid in Germany of a company active in the sector of manufacturing and distribution of garments.

Companies found guilty of breaching EU rules face fines as much as 10% of their global turnover.

(Reporting by Foo Yun CheeEditing by Mark Potter)

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