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Rolex has been fined 91.6 million euros in France for blocking the online sale of its watches.

2024-05-30 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)12/24 Report--

Thanks to CTOnews.com netizens Coje_He and Alejandro86 for the clue delivery! CTOnews.com, Dec. 21 (Xinhua)-- France's Competition Authority fined watch brand Rolex 91.6 million euros (CTOnews.com Note: about 716 million yuan) for preventing its authorized dealers from selling new watches online, Bloomberg reported.

A previous survey showed that Rolex strictly controls the distribution of its luxury watches and restricts market access for other retailers.

Rolex France is accused of restricting its dealers from selling its products online for more than a decade. Regulators believe that Rolex France's selective distribution contract with its dealers is a vertical agreement that limits competition.

In response, Rolex argues that the restrictions on online sales are designed to maintain brand image and prevent the emergence of counterfeit products.

The French Competition Authority did not accept this argument, retorting that Rolex's main competitors were still allowed to sell products online when they faced similar risks. The agency stressed that "Rolex's restrictive practices are not the only means to achieve its goals".

In addition to the fine, Rolex was ordered to inform its retailers of the decision and to post a summary of the decision on its website for seven days over the next two months.

Rolex France can choose to pay the fine or challenge the fine. The impact of the decision is not only a direct financial blow, but could also trigger scrutiny of the business practices of other luxury brands.

Screenshot of ▲ Rolex official website in July this year, Watchfinder & Co. A study found that half of the products in the luxury watch market are fake Rolex watches. At the time, CEO Arjen van de Vall told Bloomberg, "Rolex is the most coveted luxury watch brand with the greatest demand, so it is the most counterfeit brand."

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