Rolex fined €91.6 million in France over online sales restrictions
Keystone / Anthony Anex
The French competition authority has fined watch manufacturer Rolex €91.6 million euros (CHF87 million francs) for a decade-long prohibition of its authorised distributors from selling its watches online.
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Rolex é multada em 91,6 milhões de euros na França por restrições às vendas online
The French competition authority fined Rolex France jointly with Rolex Holding SA, the Hans Wilsdorf Foundation and Rolex SA, according to a press release issued on Tuesday. The fine is “accompanied by a communication and publication injunction”.
The matter had been referred to the regulator by the Union de la Bijouterie Horlogerie and Pellegrin & Fils. The competition authority considers that the provisions of the selective distribution contract between Rolex France and its distributors constitute a vertical agreement restricting competition. It rejected the argument put forward by the French subsidiary of the Geneva-based luxury watch manufacturer “which consisted in justifying the ban on online sales by the need to combat counterfeiting and parallel trade”.
The French competition watchdog notes that Rolex’s main competitors, “who face the same risks, authorise the online sale of their products under certain conditions”. In its view, “these objectives can be achieved by means that are less restrictive of competition”.
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