on the inspection, adding that it was cooperating fully with the European Commission investigation into the industry.A Kering spokesperson said the company had no further comment beyond Wednesday's statement. Rival LVMHExane BNP Paribas analyst Antoine Belge said in a research note that a conversation with Kering's investor relations team had yielded little new information.
According to Belge, the company understands the probe is part of an overall investigation involving many companies and that such inquiries can take a long time. "These investigations are not common in luxury," he said, adding that Kering shares were unlikely to react significantly until there was further news.that antitrust regulators had raided companies in the fashion sector in several EU countries, but did not name the companies involved or specify the potential breaches it was investigating.
The Commission said on Tuesday that the latest action was not related to other raids involving the fashion industry in the past two years. Reporting by Silvia Aloisi and Mimosa Spencer in Paris, Foo Yun Chee in Brussels and Emilio Parodi in Milan; writing by Keith Weir; editing by Matt Scuffham and Jason Neely