Christian Dior
Chanel, Christian Dior and L'Oreal fined USD53m for price fixing in France
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.
Chanel, Christian Dior and L'Oreal fined 40 million euros for price fixing
A French court has fined perfume giants including Chanel, Christian Dior and L'Oreal a total of 40 million euros ($53 million) 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, C
The reasons behind Bernard Arnault's new strategy at Louis Vuitton
It all started less than three weeks ago when, following months of rumours on who will take over as creative director at Christian Dior, it was officially confirmed that Marc Jacobs, the creative head of Louis Vuitton was in advance negotiation to take over the position at Dior. In fact, the strategic replacement of Jacobs started with promoting creative coordinators such as British designer Kim Jones who took over the Vuitton men's ready to wear in March this year.
Christian Dior Group registers record growth of 81pc in net income
The Christian Dior luxury holding giant said on Friday net income surged 81 percent in 2010 from the previous year, an "exceptional year" that has given the group fresh impetus to open new stores.
The group said net income had amounted to EUR1.26 million (USD1.71m) last year. Revenue rose 19 percent to EUR21.12b (USD 28.74b) from the previous year.
Dior said it would continue to open new stores and renovate existing ones in "markets that have strong potential", adding that all continents showed positive results.
