Cartels back in the Swiss spotlight
Cosmetics companies could be in breach of competition law
Swiss subsidiaries of major cosmetics and perfume producers – including L'Oréal Produits de Luxe Suisse, Chanel Genève, Parfums Christian Dior, YSL Beauté and Clarins – are claimed to have breached the Swiss competition law on cartels.
The Swiss competitions directorate, Comco, has been asked by SECO to confirm the breaches of the law and to impose penalties. It is reported that fines of around SFr25.5m (€17.9m) are envisaged.
The Secretariat of State for the Economy (SECO) said it had conducted an enquiry within the cosmetics industry body Ascopa and with certain of its member companies. SECO alleged that the signs had become "more and more evident" that the companies concerned had aligned their prices and had secured their share of the market through information exchange.
The official statement, which follows an investigation over 18 months, said that the companies would have a chance to respond and Comco would give its ruling after the hearings.
A spokesman for L'Oréal and YSL Beauté has rejected any allegation that there has been a violation of the law on cartels.