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Germany: Millions in fines keep piling up for cosmetics giants

By  |  March 20, 2013
Germany: Millions in fines keep piling up for cosmetics giants

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.

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