Rolex Fined €91.6 Million EUR for Banning Online Sales

Rolex is facing a €91.6 million EUR fine for banning the online sale of its product by authorized distributors for more than a decade, per France's Haute Autorité de la Concurrence.The national competition regulator stated that the luxury watch brand's digital sales prohibition was "serious," as it "amounted to closing a commercialization channel, to the detriment of consumers and distributors, while online distribution has been growing momentum for the past 15 years for luxury goods, includi...