Greece’s state competition watchdog has fined six prominent cosmetics firms, including Estee Lauder, L’Oreal and Christian Dior, some €19 million (SR83.98 million) for distorting competition.
The Hellenic Competition Commission said Wednesday it had found “anti-competitive agreements between wholesalers of luxury cosmetics” aimed at fixing retail prices.
According to AFP, Estee Lauder’s Greek branch was fined €5.4 million, while the subsidiaries of L’Oreal and Christian Dior received fines of €2.6 million and €1.8 million, respectively.
One of the fined companies said in a statement that it will seek the legal way. Sarantis denied it was involved in any agreement to fix retail prices. Sarantis has direct participation of 49% in Estee Lauder Cosmetics Distribution Greece, news website insider.gr notes.
![Pinterest](https://pinterest.com/pin/create/button/?url=https://www.keeptalkinggreece.com/2017/10/05/greece-fines-cosmetics-firms-competition/&media=https://www.keeptalkinggreece.com/wp-content/uploads/2017/10/competition-commission.jpg&description=Greece's Competition Commission fined several prominent cosmetics firms for "distorting competition. The total fine amounts 18.8 million euros.){kind=link}