Greece’s HCC fines cosmetics firms for alleged fixing of prices

The Hellenic Competition Commission (HCC) in Greece has fined six luxury cosmetics firms for alleged indirect fixing of reselling prices by setting a uniform level of discounts through anti-competitive agreements between wholesalers.

HCC’s decision affected Estee Lauder Hellas (€5.38m fine), GR Sarantis (€1.9m), L’Oreal Produits De Luxe Hellas (€2.6m), Parfums Christian Dior Hellas (€1.79m), Notos Com (€4.9m), and Gerolymatos Cosmetics (€2.99m).

The commission further ordered the firms to not commit the same or a similar infringement and that non-compliance would result in a fine of €10,000 per day.

According to Reuters, L‘Oreal Hellas has denied the accusations of unlawful competition and intends to appeal the fine imposed.

GR Sarantis also said that there was no such agreement between the distributors of luxury cosmetics in the country.

A statement issued by the firm read: “The basis set for the calculation of the aforementioned fine (annual sales in the selective distribution cosmetics market) does not in any way correspond to the actual figures of the market.

“The above argumentation will also be presented before the Administrative Court of Appeal, in the context of Sarantis' recourse, which we strongly believe that will be upheld, given that the aforesaid decision is contrary to fundamental principles of the law.”

Gr Sarantis is said to indirectly hold a 49% stake in Estee Lauder Hellas.