Online retailer YNAP get’s fined more than $5 million



Reuters API Fashion


Jan 16, 2023

Italy’s antitrust agency has fined online fashion retailer YOOX Net-A-Porter 5.25 million euros ($5.69 million) over misleading pricing and its returns policy, the regulator said on Friday.

Yoox Net-a-porter – Shutterstock

The retailer advertised reductions on products on which the final sale price was “substantially the same” as the pre-discount price and blocked orders from customers who had previously returned more than a certain amount of purchases, the regulator said in a statement.

YNAP did not immediately respond to an emailed request for comment.

The regulator said the violations took place between 2019-2022.

The business was controlled by Swiss luxury group Richemont until last year, when it sold a majority stake to luxury e-commerce specialist Farfetch and Dubai Mall developer Mohamed Alabbar. 

© Thomson Reuters 2023 All rights reserved.

Read original article here

Denial of responsibility! Yours Bulletin is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave A Reply

Your email address will not be published.