Italian fashion influencer Ferragni will donate $1.3 million in a deal to close an antitrust probe

Date:

Share post:


MILAN — Italian fashion influencer Chiara Ferragni will donate at least 1.2 million euros ($1.3 million) under a deal with Italian antitrust authorities investigating misleading communications that led consumers to believe proceeds from the purchase of Easter eggs with her logo would go to a children’s charity, officials said Friday.

Three Ferragni companies will pay 5% of profits over three years, with a minimum set at 1.2 million euros, to a charity for disabled children, called Children of the Fairies, according to the AGCM antitrust agency.

The maker of the eggs, Cerealitalia Industrie Dolciare, a subsidiary of the toy company Giochi Preziosi, will pay at least 100,000 euros ($108,000) to the charity.

The payment would “compensate consumers who, by purchasing the product, wanted to make an economic contribution to ‘The Children of the Fairies’,” the AGCM statement said.

The companies also agreed to separate their commercial activities, including advertising, from charitable contributions.

Ferragni posted a message on social media confirming the deal. In January, she was fined 1 million euros for a similar scheme involving charitable communications tied to sales of a traditional Christmas cake.

The deals were a blow to Ferragni’s image, which she had built up over years in the fashion industry, first as a blogger then as a front-row influencer and businesswoman who launched her how clothing, accessory and makeup brands. She also sat on the board of the Tod’s luxury group, with her three-year term expiring in March.



Source link

Lisa Holden
Lisa Holden
Lisa Holden is a news writer for LinkDaddy News. She writes health, sport, tech, and more. Some of her favorite topics include the latest trends in fitness and wellness, the best ways to use technology to improve your life, and the latest developments in medical research.

Recent posts

Related articles

Dozens are sickened and 1 person died after eating carrots contaminated with E. coli

NEW YORK -- An outbreak of E. coli has infected dozens of people who ate bagged organic...

Indian and Nigerian leaders pledge stronger security ties and support for Global South

ABUJA, Nigeria -- The leaders of Nigeria and India pledged stronger ties in maritime security and counterterrorism...

WNBA corporate sponsorship deals are growing. But not every athlete is getting their due

In a banner year for women’s professional sports, athletes who dominate their game are reaping the financial...

Will the antitrust showdown launched under Biden turn into 'Let's Make A Deal' under Trump?

SAN FRANCISCO -- The U.S. antitrust watchdogs that pounced on Big Tech and deterred corporate deal making...

'Inside the NBA' will air on ESPN and ABC as part of settlement between WBD and NBA, AP sources say

“Inside the NBA” will appear on ESPN and ABC beginning next season as part of a settlement...

Boeing issues layoff notices to 400-plus workers as it begins drastic cuts

SEATTLE -- Boeing has delivered layoff notices to more than 400 members of its professional aerospace labor...

Alaska political leaders hope to see Trump undo restrictions on oil drilling

JUNEAU, Alaska -- President-elect Donald Trump promised repeatedly during his campaign to expand oil drilling in the...

Trump names fossil fuel executive Chris Wright as energy secretary

WASHINGTON -- President-elect Donald Trump has selected Chris Wright, a campaign donor and fossil fuel executive, to...