Competition commission in Greece issues hefty fines against cosmetics companies

Wednesday, 04 October 2017 16:38

Greece’s competition commission this week handed down hefty fines against several cosmetics companies – including well-known multinationals – for allegedly engaging in cartel-like pricing and distribution practises.

The fines were imposed on the Greek subsidiary of Estee Lauder, the local Sarantis group, L’Oreal’s Greek subsidiary, Dior Hellas, Athens-based Notos holdings and Gerolimatos Cosmetics.

The eyebrow-raising decisions include a 5.388-million-euro fine against Estee Lauder Hellas, for instance, the highest announced.

The companies were also ordered to desist from such practices.

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