EssilorLuxottica shares little changed: EssilorLuxottica receives antitrust fine in France

Essilor International SA – which has since merged with Italian sunglasses maker Luxottica – abused its dominant position in the French contact lens market and restricted consumer choice, the regulator said, and fined the company nearly €81 million. The parent company EssilorLuxottica would have to take over a share of 15.4 million euros in the total.

As early as 2009, Essilor blocked some online platforms from offering consumers Essilor or Varilux eyeglass lenses – a practice that continued for almost twelve years. Essilor also refused to supply branded lenses and banned those platforms from using Essilor’s brand and logos, the allegation said. This has helped keep eyewear prices high and limited consumer choice.

EssilorLuxottica announced that it would appeal. The company’s business practices were fully consistent with the competitive and regulatory environment of the period in question and benefited not only its customers and partners but the industry as a whole, the group said.

On the EURONEXT in Paris, EssilorLuxottica shares temporarily fell 0.03 percent to EUR 165.45 on Wednesday.

PARIS (Dow Jones)

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