European Commission To Fine Pierre Cardin For Violating EU Norms
If found guilty of breaching antitrust rules, companies must pay 10 percent of their global turnover
By: : Daniel
Update: 2024-11-08 17:45 GMT
European Commission To Fine Pierre Cardin For Violating EU Norms
If found guilty of breaching antitrust rules, companies must pay 10 percent of their global turnover
The European Commission is set to penalize Pierre Cardin for allegedly violating the European Union (EU) antitrust rules.
The Commission accused the French fashion house and its licensee, Ahlers, the German clothing maker, of restricting cross-border and online sales.
The Commission, which acts as the EU competition enforcer, raided Pierre Cardin in 2021, and charges were imposed against the company last year for licensing and distribution deals with Ahlers, breaching the EU rules.
However, a spokesperson for Pierre Cardin claimed, "We have not yet received any official information regarding the fine.”