Finance
France fines 12 household appliance firms $635 million for price fixing
Published by Global Banking & Finance Review®
Posted on December 19, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 19, 2024
1 min readLast updated: January 27, 2026
France fines 12 appliance firms $635M for price fixing from 2007-2014, impacting competition and consumer prices.
PARIS (Reuters) - France's antitrust agency has fined 12 household appliance makers and distributors, including Electrolux, Whirlpool and LG, a total of 611 million euros ($635 million) for price fixing between 2007 and 2014.
"These practices reduced competition between distributors and kept prices artificially high for end consumers," the competition authority said on Thursday.
Ten of the 12 companies did not contest the facts alleged.
Groupe SEB, which owns the Tefal and Rowenta brands and received the largest fine of 189.5 million euros, denied the accusations and said it planned to appeal against the ruling.
French retailer Fnac Darty, which was fined 109 million euros, acknowledged the decision and said it would settle the transaction in 2025, using short-term financing.
Representatives for Electrolux, Whirlpool and LG did not immediately respond to requests for comment.
($1 = 0.9625 euros)
(Reporting by Makini Brice and Alban Kacher. Editing by Benoit Van Overstraeten and Mark Potter)
The main topic is France fining 12 household appliance firms $635 million for price fixing between 2007 and 2014.
Groupe SEB received the largest fine of 189.5 million euros and plans to appeal the ruling.
Fnac Darty will settle its 109 million euro fine in 2025 using short-term financing.
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