Big Consumer Goods Companies Fined Millions In France For Price Fixing Conspiracy

The French government has imposed fines totaling €361 million (US$469 million) on Procter and Gamble, Henkel and Colgate-Palmolive, for conspiring to fix the price of laundry powder, tablets and liquids in France over a seven-year period ending in 2004. Unilever was also a part of the collusion, but was granted immunity for owning up to the conspiracy first. According to a report by France’s competition regulator, the Autorité de la concurrence, certain executives of the companies covered up their price-fixing activities from bosses and regulators using elaborate schemes, such as secret meetings under code names in Paris hotels. The companies agreed to ban special offers and not pass on cost savings to consumers. The conspiracy eventually unraveled, however.