Rolex is a luxury watch manufacturer. ARCHIVE

France's competition regulator imposed a fine of 91.6 million euros ($100.5 million) on the local subsidiary of Swiss luxury watch maker Rolex for blocking retailers from selling online. The regulator said on Tuesday (December 19) that it considered that the prohibition Rolex had imposed on retailers as “restricted competition” and rejected the argument that the ban on online selling was justified by the need to combat counterfeiting and parallel trade. It noted that Rolex's main competitors, "who face the same risks, authorise the online selling of their products under certain conditions". Since Rolex imposed the online sales ban for more than 10 years, France fined the luxury watch maker an equivalent of $100.5 million. Rolex declined to comment. ICA/Expat Media
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