UK, Swiss Regulators Probe Fragrance Market

By Adria Calatayud

Antitrust regulators in the U.K. and Switzerland said Wednesday that they have launched investigations into the fragrance industry, a day after the European Commission said it had carried out inspections over possible collusion.

The U.K.'s Competition and Markets Authority said it has reason to suspect suppliers of fragrances and fragrance ingredients used in consumer products have engaged in anticompetitive conduct. Firmenich International SA, Givaudan SA, International Flavors & Fragrances Inc. and Symrise AG are the companies under investigation by the CMA, it said.

The Swiss Competition Commission separately said it had opened a probe into suspicions that fragrance producers have colluded, and also cited the four companies as being investigated. It said raids were conducted at various locations.

The Swiss and U.K. regulators said they have been in contact with the Antitrust Division of the U.S. Department of Justice and the European Commission in relation to the matter.

The CMA said it may issue a statement if it reaches the provisional conclusion that competition law has been infringed after a period of investigation, but that no assumptions should be made at this stage.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

March 08, 2023 02:44 ET (07:44 GMT)

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