History
2023: Penalty for cheating buyers with discounts
On January 12, 2023, the Italian antimonopoly agency announced a fine on the world's largest online fashion store YOOX Net-A-Porter (YNAP). The company is accused of deceiving buyers and misleading users.
We are talking about pricing and refund schemes. The case file says that the retailer advertised goods with discounts, but in fact the price at checkout was "almost the same" as without a discount. In addition, the company blocked the possibility of new orders for those customers who had previously returned a large number of purchases - over a certain threshold.
YNAP is fined €5.25 million. According to the regulator, unfair practice was used from 2019 to 2022. The company itself does not agree with the resolution. She said she would appeal the antitrust ruling, noting that she "always followed the highest standards of conduct in the commercial market."
Until 2022, the business of online retailer YNAP was managed by the Swiss luxury group Richemont. At the end of August 2022, a controlling stake was sold to a major player in the Farfetch luxury e-commerce market and Dubai Mall developer Mohamed Alabbar. The concept of the YNAP is to buy items from aging collections from prominent fashion houses including Dolce & Gabbana, Diesel, Gucci, Armani and Cavalli and sell them at discounted prices. This is done so that luxury brands can get rid of last year's products without undermining their brands and reducing sales in their own branded salons. In addition to clothing, various accessories, shoes, bags, etc. are offered.[1]
Notes
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