By  on June 1, 2010

PARIS — Prestige fragrance and cosmetics brands, including Chanel, Christian Dior, Clarins and some L’Oréal-owned brands, could be fined by Switzerland’s competition commission, which said it has found indication of price fixing.

Fines for violation of cartel rules would run from 17,000 Swiss francs to 25.5 million Swiss francs, or $14,718 to $22.1 million at current exchange, stated the commission.

The firms have the right to respond to the claims.

L’Oréal denies the allegations.

“L’Oréal Produits de Luxe Suisse SA and YSL Beauté Suisse SA deny any breach of the Cartel Act that could have been intended to distort competition,” said a L’Oréal spokeswoman. “L’Oréal Produits de Luxe Suisse SA and YSL Beauté Suisse SA reject the allegations made against them and will respond to the [competition commission’s secretariat] in due course after receiving and analyzing the proposed decision concerning them.”

To continue reading this article...

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus