A PYMNTS Company

Germany: Millions in fines keep piling up for cosmetics giants

 |  March 20, 2013

Germany’s Federal Cartel Office has stated its antitrust suit against various cosmetics giants for colluding to share market-sensitive information. According to the Federal Cartel Office’s president Andreas Mundt, various companies such as L’Oreal and Proctor and Gamble have been accused of forming a cartel for “years” and the companies have now been fined. More than $50 million has been issued in fines to the companies, on top of the nearly $31 million issued to various other cosmetics companies between 2008 and 2011. The Federal Office has announced that the penalty notice has already been issued; authorities have also reportedly settled with Beiersdorf.


Full Content: Cosmetics Design

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.