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Perfume makers face fines for sniffing profits

Switzerland’s competition watchdog is seeking millions of francs in fines for makers of luxury perfumes and cosmetics for fixing prices and market quotas.

An 18-month-long investigation by the Federal Competition Commission said fines would range up to SFr25.5 million ($22 million) and would hit the majority of members of Ascopa, a Geneva-based association of manufacturers, importers and suppliers of perfumes and make-up.

Those likely to suffer fines include Chanel Genève, Clarins, L’Oréal Produits de luxe Suisse, Christian Dior and Yves Saint Laurent Beauté, among others.

The competition commission found that many of the association’s members had exchanged market information to align their prices and freeze their market shares.

Regulators said the fines are based on company sales and the severity of the antitrust violations. Companies will have a chance to comment on the investigation’s findings before the fines are imposed. and agencies

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SWI - a branch of Swiss Broadcasting Corporation SRG SSR

SWI - a branch of Swiss Broadcasting Corporation SRG SSR