Core Points - The European Commission imposed fines totaling over €157 million (approximately 1.3 billion yuan) on luxury brands Gucci, Chloé, and Loewe for violating EU antitrust regulations by restricting third-party retailers' pricing practices [2][4] Group 1: Company Actions - The three brands, part of Kering Group, Richemont Group, and LVMH Group, engaged in resale price maintenance (RPM) practices, which included requiring retailers to adhere to suggested retail prices, setting maximum discount rates, and limiting promotional periods [4] - These practices were found to cover the entire European Economic Area and persisted for several years, leading to increased product prices and reduced consumer choice [4] Group 2: Fine Details - The fines were reduced due to the companies' cooperation during the investigation, with Gucci and Loewe receiving a 50% reduction, resulting in final fines of €119.7 million and €18.01 million, respectively, while Chloé received a 15% reduction, leading to a fine of €19.69 million [5]

Group 1 - European retailers and consumer brands are shifting focus from the US to Europe and other markets due to anticipated price increases from US tariff policies, which are expected to depress consumer demand in the US [1] - Zalando, a German online fashion retailer, is actively expanding its European market presence and engaging with potential new customers [1][2] - Hugo Boss, a German high-end clothing brand, has moved its products manufactured in China to markets outside the US, citing a significant deterioration in US consumer spending due to economic uncertainty [4][6] Group 2 - Adidas, a German sportswear manufacturer, reported strong growth in Q1 but noted that uncertainty from US tariff policies is directly impacting company decisions [8] - The CEO of Adidas indicated that in a "normal world," the company could have raised its full-year revenue and operating profit forecasts, but current tariff uncertainties prevent such actions [10] - Market analysts believe that the direction of US trade policies remains unclear, posing significant external risks for global manufacturing companies [10]