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Swiss commission may fine Chanel, L'Oréal and others.
June 1, 2010
By: TOM BRANNA
Switzerland’s Competition Commission may fine several prestige fragrance and cosmetics brands, including Chanel, Christian Dior, Clarins and some L’Oréal-owned brands, after finding indications 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.”
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