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EU Antitrust Regulators to Pierre Cardin's Licensing, Distribution Deals Ahlers

French fashion designer Pierre Cardin in his store, Boutique Pierre Cardin, on June 27, 2019, in Paris. AFP - BERTRAND GUAY / File picture
French fashion designer Pierre Cardin in his store, Boutique Pierre Cardin, on June 27, 2019, in Paris. AFP - BERTRAND GUAY / File picture
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EU Antitrust Regulators to Pierre Cardin's Licensing, Distribution Deals Ahlers

French fashion designer Pierre Cardin in his store, Boutique Pierre Cardin, on June 27, 2019, in Paris. AFP - BERTRAND GUAY / File picture
French fashion designer Pierre Cardin in his store, Boutique Pierre Cardin, on June 27, 2019, in Paris. AFP - BERTRAND GUAY / File picture

EU antitrust regulators opened on Monday an investigation into fashion house Pierre Cardin's licensing and distribution deals with German clothing maker Ahlers, concerned that these may breach EU rules on online and cross-border sales.

"Pierre Cardin and Ahlers may have breached EU competition rules by restricting the ability of Pierre Cardin's licensees to sell Pierre Cardin-licensed products crossborder, including offline and online, as well as to specific customer groups," the European Commission said in a statement.

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Zara Owner Inditex Reports Weaker Than Expected First-quarter Sales

A woman carries a bag from Spanish multinational retail clothing chain Zara, the flagship brand of the Inditex clothing company, in the Gran Via of Bilbao, Spain, March 12, 2024. (Reuters)
A woman carries a bag from Spanish multinational retail clothing chain Zara, the flagship brand of the Inditex clothing company, in the Gran Via of Bilbao, Spain, March 12, 2024. (Reuters)
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Zara Owner Inditex Reports Weaker Than Expected First-quarter Sales

A woman carries a bag from Spanish multinational retail clothing chain Zara, the flagship brand of the Inditex clothing company, in the Gran Via of Bilbao, Spain, March 12, 2024. (Reuters)
A woman carries a bag from Spanish multinational retail clothing chain Zara, the flagship brand of the Inditex clothing company, in the Gran Via of Bilbao, Spain, March 12, 2024. (Reuters)

Zara owner Inditex missed expectations for its first-quarter sales on Wednesday, adding to doubts about the ability of the fast-fashion retailer to keep delivering strong sales growth in an uncertain economic environment.

Inditex also reported a slower start to its summer sales, with revenue growth of 6% from May 1 to June 9, compared to a 12% growth in the same period a year ago, Reuters said.

The company reported revenues of 8.27 billion euros ($9.44 billion) for its first quarter ending April 30, missing analysts' average estimate of 8.36 billion euros, according to an LSEG poll.

Fears of resurgent inflation and an economic slowdown triggered by tariffs have already dampened consumers' enthusiasm for shopping in the United States and elsewhere.

Cooler weather in Spain, which accounts for 15% of Inditex's global sales, has also probably hurt the retailer's performance, according to Bernstein analysts.