According to a report by Reuters, the EU competition watchdog raided several fashion companies in May 2022 based on concerns that they may have taken part in a cartel to fix prices. It did not name the companies.

The raids were prompted by an open letter issued in 2020 by some fashion designers which called for fundamental changes to the industry to make it more environmentally and socially sustainable.

Hundreds of companies around the world, including Dries Van Noten, Thom Browne, Proenza Schouler, Lane Crawford, Mary Katrantzou, Gabriela Hearst, Altuzarra and Missoni Group, had signed the open letter.

“The European Commission has decided to close its preliminary investigation into this matter for priority reasons. The closure is not a finding of compliance or non-compliance of the conduct in question with EU competition rules,” a Commission spokesperson said.

Source: Reuters