EU Watchdogs Raid Gucci’s Offices In Italy

The tax police in Italy conducted an inspection at a Gucci facility in Milan, as part of an EU investigation into potential violations of business practice regulations. This information was provided by a source who had direct knowledge of the matter on Wednesday.

On Tuesday, the Guardia di Finanza and European Commission agents conducted an inspection at a site in Milan related to the production of travel items, handbags, and leather goods. Gucci, part of Kering, declined to comment to Reuters.

The European Commission stated antitrust regulators had raided fashion companies in multiple EU countries. The Commission did not disclose the companies or countries involved but sent information requests to other companies in the same sector.The European Commission, which runs the EU’s powerful antitrust authority, is looking into allegations the companies had violated the bloc’s competition rules.

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If a company raided is found guilty of antitrust violations, it risks large fines but can be granted immunity if it cooperates with the commission and amends its behaviour.

The world’s second largest luxury group, Kering also includes fashion houses Yves Saint Laurent and Balenciaga.