Luxury brands Gucci, Chloe, and Loewe were fined a total of 157 million euros by the EU for fixing resale prices with retailers. Gucci faced the largest fine at 119.7 million euros. The brands imposed restrictions on retailers, affecting pricing and competition. LVMH’s Loewe pledged to comply with antitrust laws, while Richemont, owner of Chloe, did not comment on the fine. The EU found the practices limited pricing independence and competition. Other luxury brands are also facing scrutiny for alleged worker abuse and data breaches.

Read more at Yahoo Finance: EU fines Gucci, Chloe and Loewe for fixing resale prices