French court has fined perfume giants including Chanel, Christian Dior and L'Oreal a total of EUR40 million (USD53m) for colluding to keep prices high.

A Paris appeals court upheld the fine imposed in 2006 by the French competition watchdog, which said the companies involved had reached illicit agreements on price fixing, enforced by procedures to monitor prices in outlets and backed up by commercial threats for non-compliance.

Thirteen leading perfume and luxury goods companies were fined: Jean-Paul Gaultier, Issey Miyake, Chanel, Clarins Fragrance Group, Hermes, Christian Dior, Clinique, Estee Lauder, Guerlain, l'Oreal, LVMH Fragrance Brands, Sisheido Europe and YSL. Distributors Marionnaud, Sephora and Nocibe were also fined.