YNAP fined 5.25 million euros by Italian watchdog for misleading pricing
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Luxury pureplayer YNAP, which operates the Net-a-Porter and Yoox e-commerce businesses, was fined 5.25 million euros by Italy’s antitrust body.
The hefty fine for misleading prices came as the etailer was alleged to limit the right to return merchandise purchased between 2019 and 2022.
Shoppers experienced limited rights to return merchandise with the websites blocking completed online orders, without informing customers, when certain return levels were breached.
Other allegations by the antitrust say YNAP misrepresented sale prices and the discounts that were effectively applied. The retailer advertised reductions on products on which the final sale price was “substantially the same” said Reuters.
Yoox has 60 days to inform the regulator on the measures it has implemented to be in compliance.
In 2022 Swiss luxury group Richemont sold YNAP to Farfetch and Emirati businessman Mohamed Alabbar.