PARIS: The French competition authority slapped fines worth 951 million euros ($1.2 billion) on household goods makers on Thursday over price fixing in supermarkets between 2003 and 2006.
The watchdog announced sanctions totalling 345.2m euros on cleaning products makers Colgate-Palmolive, Henkel, Unilever, Procter & Gamble, Reckitt Benckiser, Sara Lee, SC Johnson and Bolton Solitaire.
It announced a further 605.9m euros of fines relating to personal hygiene products against Colgate, Henkel, Unilever, P&G, Reckitt, Sara Lee, Laboratoires Vendme, Gillette, L’Oreal, Beiersdorf and Vania.
The watchdog said the companies had coordinated their commercial policies and, in particular, agreed on price increases.
“These two sanctions are among the most significant imposed to date by the competition authority,” it said.
French cosmetics giant L’Oreal, which faces the biggest share of the fines at 189.5m euros, denied anticompetitive behaviour and said it would appeal the decision.
“L’Oreal is extremely surprised by this decision and the amount of the fine, which are totally out of proportion,” it said in a statement.
Anglo-Dutch company Unilever, whose fines total 172.5m euros, said it will also appeal.
Published in Dawn, December 19th, 2014
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