Turkish Competition Watchdog Fines Adidas with USD9.6M
(MENAFN) The Turkish Competition Board has hit sportswear giant Adidas with a hefty fine of 402.3 million Turkish lira (around $9.6 million), a statement released on Friday revealed.
The regulatory authority initiated an investigation into claims that Adidas exerted control over the resale prices set by its authorized retailers within Türkiye.
The inquiry uncovered that Adidas dictated the discount rates authorized retailers were permitted to offer, specified which products could be discounted, and controlled the timing of these discounts, the statement detailed.
“Interference in authorized retailers’ pricing policies, especially on online storefronts, constitutes a violation of the Law on the Protection of Competition,” it emphasized.
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