Gucci, Chloé and Loewe Hit by €157 Million EU Antitrust Fine (3)

Luxury fashion giants Gucci, Chloé and Loewe have been hit with European Union fines totaling more than €157 million ($182 million) for imposing allegedly illegal price curbs.

The European Commission said Tuesday its investigation revealed the trio restricted the ability of retailers they work with to set their own prices. The Brussels-based EU executive said the conduct led to consumers paying more.

The €119.7 million penalty for Kering SA’sGucci’s was the highest of the three. Cie Financiere Richemont SA.’s Chloé and LVMH Moët Hennessy Louis Vuitton SE’s Loewe were ordered to pay €19.7 million and €18 million ...