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Swiss authority investigates possible collusion in fragrance market

The Swiss Competition Commission (COMCO) has opened an investigation in the fragrance sector based on its suspicions that producers have colluded.

Under investigation are Firmenich International SA (Geneva), Givaudan SA (Geneva), International Flavors & Fragrances Inc. (USA) and Symrise AG (Germany).

Dawn raids were conducted at various locations carried out in consultation with other competition authorities, namely the European Commission, the US Department of Justice Antitrust Division and the UK Competition and Markets Authority.

COMCO said it has indications that several undertakings active in the production of fragrances have violated cartel law.

“There are suspicions that these undertakings have coordinated their pricing policy, prohibited their competitors from supplying certain customers and limited the production of certain fragrances,” it said in a statement.

“In the course of the investigation, it will be examined whether there are indeed restrictions of competition prohibited by cartel law. The presumption of innocence applies to the undertakings.”

All four companies are said to be co-operating fully with the investigation.

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Upcoming Events

9th Anti-Ageing Skin Care Conference

Royal College of Physicians, London
25th - 26th June 2024

in-cosmetics Korea 2024

Hall C, Coex, Seoul, South Korea
24th - 26th July 2024

in-cosmetics Latin America 2024

São Paulo, Brazil
25th - 26th September 2024

IFSCC 2024

Recanto das Cataratas Thermas Resort, Iguazu Falls, Brazil
14th - 17th October 2024

SEPAWA

Estrel Congress Center, Berlin
16th - 18th October 2024

Cosmetorium

Palau de Congressos de Barcelona
23rd - 24th October 2024

Access the latest issue of Personal Care Magazine on your mobile device together with an archive of back issues.

Download the FREE Personal Care Magazine app from your device's App store

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