Obstructing Seller'S Cross Border Sale Nike Was Fined 12 Million 500 Thousand Euros
Nike Inc. (NYSE:NKE) Nike, the world's largest sporting goods provider, has been fined 12 million 500 thousand euros, or about 14 million dollars, by blocking the cross-border sales of European football clubs.
Margrethe Vestager, the European Commissioner for competition affairs, said on Monday that the behavior of the US giants deprived fans of other countries of their chances to buy club products.
According to the statement, in 2004-2017 years, Nike group blocked many clubs including Barcelona, Manchester United, Juventus and international Milan to sell goods to foreign fans.
At the end of 2018, the European Commission's latest regulations on "geo-blocking (regional screening)" came into effect.
The new law ensures that all consumers, regardless of nationality and place of residence, can purchase goods and services from any member country on the Internet, because many retail giants are under investigation by the European Union.
Earlier, the US apparel group Guess Inc. (NYSE:GES) was also fined 39 million 821 thousand euros for restricting cross-border sales in the EU.
However, there are good news for us giants.
On Monday, the US High Court recently dismissed Jacobus Rentmeester's copyright lawsuit against the group.
The photographer claimed that the logo of Nike's Jordan brand was taken as an Olympic special event for life magazine in 1984. As a former Olympic rower, he designed a famous photo of Michael Jordan Michael Jordan at the University of North Carolina, and was inspired by his similar photo taken in 1983 Mikhail Baryshnikov.
In response, Nike group claimed that the photo was taken during the play of Jordan in Chicago bulls.
Author: Li Yan
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