France Slaps Major Appliance Makers with Price-Fixing Fine

France's antitrust agency has fined 12 appliance makers, including Electrolux and Whirlpool, 611 million euros for price fixing between 2007 and 2014. Groupe SEB received the largest fine but plans to appeal. Fnac Darty acknowledged the decision and plans to settle in 2025.

France's antitrust authority has imposed a hefty fine of 611 million euros on 12 leading appliance manufacturers and distributors, including prominent names such as Electrolux, Whirlpool, and LG. The penalties stem from accusations of price fixing between 2007 and 2014, aimed at keeping consumer prices artificially high.

The agency asserted that these practices hindered competition among distributors, directly affecting end consumers. Notably, 10 out of the 12 implicated companies did not challenge the allegations. Groupe SEB, notable for its Tefal and Rowenta brands, faces the largest fine of 189.5 million euros and has announced plans to appeal the ruling.

Meanwhile, French retailer Fnac Darty, hit with a 109 million euro fine, has accepted the decision and intends to finalize the transaction by 2025 using short-term financing. Electrolux, Whirlpool, and LG have yet to respond to requests for comment on the matter.

(With inputs from agencies.)