EU strikes antitrust pose with raids on fashion firm

EU antitrust investigators raided several companies across Europe on Tuesday over suspicions of a secret cartel in the fashion industry, the European Commission said.

The European Commission said its teams had carried out unannounced inspections "at the premises of companies active in the fashion industry in several member states".

It did not say which companies investigators -- joined by competition authorities of each member state involved -- had raided, nor which countries took part.

The European Commission, which runs the EU's powerful antitrust authority, is looking into allegations the companies had violated the bloc's competition rules.

If a company raided is found guilty of antitrust violations, it risks large fines but can be granted immunity if it cooperates with the commission and amends its behaviour.(AFP)