The EU antitrust watchdog conducted raids on fashion companies across multiple EU countries due to suspicions of cartel activity.
The European Commission did not name the companies nor the countries. “The companies concerned may have violated Article 101 of the Treaty on the Functioning of the European Union and Article 53 of the European Economic Area Agreement, which prohibit cartels and other restrictive business practices.” the EU competition agency said in a statement.
Read more: UK’s Antitrust Watchdog To Probe Fashion Industry
Unannounced inspections are a preliminary investigative step into suspected anticompetitive practices. The fact that the Commission carries out such inspections and sends out formal requests for information does not mean that the companies are guilty of anti-competitive behavior nor does it prejudge the outcome of the investigation itself.
