Share

R300k penalty for Premium Brand

Cape Town - Premium Brand has been ordered to pay an administrative penalty of R300 500 relating to prohibited practice, the Competition Tribunal said on Wednesday.  

The Commission found that Premium Brand, sole distributor of Nikon cameras in South Africa, prohibited retailers from selling cameras at a mark-up of not less than 5% between 2008 and 2012.

"Premium brand has agreed not to engage in minimum price retail engagement," the Tribunal said.
 
"Premium brand admitted that it coordinated the advertisement of the Nikon Brand by coordinating prices at which the Nikon brand was advertised in a manner which may have had the effect of contravening section 5 (2)."
 
The Tribunal confirmed an agreement, in terms of which Premium Brand agrees not to engage in resale price maintenance, to develop and circulate a policy document to all its distributors informing them that all recommended retail prices in relation to Nikon products are recommendations only and all distributors are at all times free to determine their own retail prices.

Read Fin24's top stories trending on Twitter:

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.94
-0.9%
Rand - Pound
24.10
-0.9%
Rand - Euro
20.59
-0.7%
Rand - Aus dollar
12.42
-0.9%
Rand - Yen
0.13
-0.8%
Platinum
915.75
-0.8%
Palladium
1,028.36
-3.5%
Gold
2,159.96
+0.2%
Silver
25.03
-0.6%
Brent Crude
85.34
-0.1%
Top 40
66,252
0.0%
All Share
72,431
0.0%
Resource 10
53,317
0.0%
Industrial 25
100,473
0.0%
Financial 15
16,622
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders