Swiss authorities open fragrance cartel probe

Swiss antitrust authorities are investigating Swiss, German and US fragrance companies over allegations they colluded to fix prices and thwart competitors, the country's competition regulator said Wednesday.

The Swiss Competition Commission said dawn raids took place "at various locations" in consultation with EU, US and British antitrust authorities. The commission said Swiss firms Firmenich International and Givaudan, US peer International Flavors & Fragrances and Germany's Symrise were being investigated over suspicions of violating cartel laws.

"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," the commission said in a statement.

Founded in 1895, Firmenich is a family business behind famous perfumes including Angel by Thierry Mugler, Armani's Acqua di Gio and Kenzo's Flower. Firmenich is merging with Dutch firm DSM to create a major fragrance company.(AFP)