FAS suspected TsUM and Mercury of collusion in the branded products market

by time news

FAS Russia suspected the Mercury group of companies and the Central Department Store (TSUM) of international price collusion in the branded product market, the press service of the department reports.

According to the department, in the actions of the organizations “there are signs of international price collusion in the market for elite branded products, including when selling goods online.” For more than two hours, the FAS inspectorate could not get into the TsUM building and start checking.

The maximum penalty for participation in a cartel conspiracy is up to 15% of the company’s annual revenue. The turnover of audited organizations at the end of 2020 exceeded 90 billion rubles, the FAS said in a statement. For restricting competition, Russian laws also provide for criminal liability, the department added.

In October 2020, the FAS fined TSUM and the Mercury group of companies for refusing to provide information during inspections.

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