A New York candle company has initiated a class action lawsuit against four global fragrance manufacturers, claiming that these firms colluded to raise prices and stifle competition in the American fragrance retail sector.
On April 18, a class action lawsuit was filed by Our Own Candle Company Inc. against Givaudan SA, International Flavors & Fragrances Inc., Symrise AG and Firmenich SA in a New Jersey federal court. The lawsuit alleges violations of antitrust laws.
The lawsuit alleges that the four companies collaborated to raise prices and limit competition in the fragrance product market for U.S. retailers.
Our Own has alleged that the companies have violated antitrust laws under the Sherman Act by conspiring to increase and maintain the prices of fragrance products since Jan. 2018.
According to Our Own, the companies may have initially increased prices due to the increase in raw material costs, but they continued to maintain the prices even as the material costs decreased.
