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Fender fined millions in the UK
- Thread starter Kijuer
- Start date
Huge reduction for a plea bargain.
"The penalty would have been £14.2m had Fender not admitted to the offence under the CMA’s leniency and settlement procedures. The firm said it had pursued a policy designed to restrict UK retailers from cutting their online prices."
"The penalty would have been £14.2m had Fender not admitted to the offence under the CMA’s leniency and settlement procedures. The firm said it had pursued a policy designed to restrict UK retailers from cutting their online prices."
Wow. Interesting story.
I wasn't aware that this was a law overseas.
Do companies get away with this often?
Seems like Fender is too big a target to think they could get away with this.
OTOH, maybe the fine is insignificant relative to the profits made by enforcing a bottom line price?
I wasn't aware that this was a law overseas.
Do companies get away with this often?
Seems like Fender is too big a target to think they could get away with this.
OTOH, maybe the fine is insignificant relative to the profits made by enforcing a bottom line price?
They also force their authorized retailers to buy in a set value amount of inventory at the beginning of the year.
That might be an industry-wide thing for authorized retailers, however.
That might be an industry-wide thing for authorized retailers, however.
Casio were fined £3 million last year for the same thing,can't recall the outcome of the Roland investigation.
I imagine there were plenty boardroom meetings this morning at other company HQ's looking to see how they can avoid the same fate.
This popped up on my phone last night.
Just one of the reasons why Fenders in this country are so much more expensive than they are in the USA.
Just one of the reasons why Fenders in this country are so much more expensive than they are in the USA.
The primary function of corporate business is to maximise profits and market share... Ethics and morality, don't come into it.
As long as no one forces Harley Benton to increase their prices, I'm fine. Who needs a Fender anyway?
