Türkiye’s Competition Authority has imposed an administrative fine of 31,395,634 Turkish Lira (approximately $1 million) on three companies operating in the cosmetic sector, following a settlement process.
According to an announcement published on the official website of the Competition Authority, the investigation was conducted into an economic entity comprising Biota Bitkisel Ilac ve Kozmetik Laboratuarlari AS—known for its Bioxin, Bioder, Biobaby, and Nutraxin brands—along with Derma Cos Ilac Medikal ve Kozmetik Sanayii ve Ic Ticaret AS and Derma-Cos Kozmetik Sanayi Ticaret Ithalat ve Ihracat Limited Sirketi.
The companies were found to have violated Türkiye’s Competition Law by fixing resale prices of distributors, which restricts fair market competition.
As a result of the settlement request submitted by the companies, the Board concluded the investigation with an agreement to impose an administrative monetary penalty totaling 31,395,634 TL.
This ruling underscores Türkiye’s commitment to ensuring competitive market practices and holding companies accountable for actions that undermine consumer choice and market fairness.
Source: Bloomberght/ Prepared by: İlayda Gök