BUSINESS IN SHORT

Cosmetics firms fined

THE ANTITRUST Office has ordered the FM Group World company and its exclusive distributor in Slovakia, FM Group SI, to pay a fine of €13,400. The antitrust office concluded that the firms violated the law on protection of economic competition by concluding a franchise contract on distribution of FM cosmetics that contained a provision directly setting the price of further sale by its distributor, the SITA newswire reported.

THE ANTITRUST Office has ordered the FM Group World company and its exclusive distributor in Slovakia, FM Group SI, to pay a fine of €13,400. The antitrust office concluded that the firms violated the law on protection of economic competition by concluding a franchise contract on distribution of FM cosmetics that contained a provision directly setting the price of further sale by its distributor, the SITA newswire reported.

According to the regulator, agreements of this kind are illegal because their substance restricts economic competition. The authority considered several factors in setting the amount of the fine, including the character of the agreement, the level of competition between brands and the impact of the behaviour of FM Group World and FM Group SI on the competition. The companies acknowledged that they breached the law.


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