French, US cosmetics firms fined for collusion in Greece
While the subsidiaries of L’Oreal and Christian Dior received fines of €2.6 million and €1.8 million
Athens - Muslimchronicle
Greece’s state competition watchdog has fined six prominent cosmetics firms, including Estee Lauder, L’Oreal and Christian Dior, some €19 million (SR83.98 million) for distorting competition.
The Hellenic Competition Commission said Wednesday it had found “anti-competitive agreements between wholesalers of luxury cosmetics” aimed at fixing retail prices.
Estee Lauder’s Greek branch was fined €5.4 million, while the subsidiaries of L’Oreal and Christian Dior received fines of €2.6 million and €1.8 million, respectively.
There has been no immediate comment from the companies.
Source:Arabnews
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