The company implemented a vertical agreement within its selective distribution system by controlling the maximum discounts authorised jewellers could offer, and also prevented them from operating on third-party platforms and marketplaces.

The Italian Competition Authority has imposed a 25,895,043 euro fine on Morellato S.p.A. for engaging in an anti-competitive agreement in the distribution of mid-range, affordable jewellery and watches, lasting from 20 July 2018 to 23 December 2025.

The Authority found that Morellato, one of Italy’s leading manufacturers of mid-range, affordable watches and jewellery (that is, non-luxury products), imposed resale prices by setting the maximum discounts distributors could offer on online sales channels, through specific guidance on applicable discount percentages.

The Authority found that Morellato implemented this conduct by continuously monitoring the prices applied by distributors, with penalties against those that did not follow its instructions, through repeated warnings, demands to remove discounts, the automatic blocking of orders and Amazon accounts, as well as threats to terminate contracts.

Moreover, Morellato’s distribution agreements contained an express clause prohibiting its distributors from selling on third-party online platforms (such as Amazon, eBay, etc.). Morellato monitored compliance with this marketplace ban and responded to breaches with threats and retaliatory measures – despite itself using those same marketplaces to sell its products.

The Authority therefore concluded that Morellato’s conduct amounted to a vertical agreement in breach of article 101 TFEU. By imposing resale prices and restricting online sales through marketplaces in a discriminatory and disproportionate manner, Morellato reduced competition between authorised distributors and limited their freedom to determine their own commercial policies.

Rome, 31 March 2026

Text of the decision

Executive Summary

The companies may have failed to make clear that the cosmetics sold by Sephora and Benefit Cosmetics are not intended for children and adolescents, while appearing instead to have encouraged their purchase through covert marketing strategies involving young micro-influencers.

The Italian Competition Authority has launched two investigations, one into Sephora Italia S.r.l., and the other into Benefit Cosmetics LLC, Sephora Italia S.r.l. and LVMH Profumi e Cosmetici Italia S.r.l. The investigations centre on possible unfair commercial practices linked to the premature use of adult cosmetics among children and adolescents (including those under the age of 10/12) by encouraging the compulsive purchase of face masks, serums and anti-ageing creams. These practices are linked to the broader issue of “cosmeticorexia” – an obsession with skincare among minors.

The investigations were opened over concerns that important information – such as warnings and precautions for cosmetics not intended for, or tested on, minors – may have been omitted or presented in a misleading manner, including online and in Sephora stores, and particularly in relation to the Sephora Collection and Benefit Cosmetics lines. The frequent and combined use of a wide range of cosmetics by minors, without proper awareness, may be harmful to their health.

The companies also appear to have adopted a particularly insidious marketing strategy, involving very young micro-influencers who encourage the compulsive purchase of cosmetics among young people, a particularly vulnerable group.

Inspections at the premises of Sephora Italia S.r.l., LVMH Profumi e Cosmetici Italia S.r.l. and LVMH Italia S.p.A. were carried out yesterday by the Authority’s officials, assisted by the Special Antitrust Unit of the Italian Financial Police (Guardia di Finanza).

Rome, 27 March 2026

Authority concerned that Edenred may have shifted unjustified costs onto large-scale retail chains, with potential impacts on consumer prices.

The Italian Competition Authority has launched an investigation into Edenred Italia S.r.l. and its parent company Edenred SE over a possible abuse of a dominant position in the national market for the provision of meal vouchers to employees in place of canteen services, in breach of article 102 TFEU.

Following the introduction of a statutory cap on the reimbursement fees charged to affiliated businesses accepting meal vouchers, Edenred is thought to have implemented a complex strategy aimed at shifting entirely unjustified costs onto large-scale retail chains. In particular, Edenred seems to have unilaterally changed how electronic meal vouchers are accepted by discontinuing the direct integration between large-scale retail checkout systems and its own authorisation platforms. This appears to have been replaced by a requirement to use third-party interconnection systems, resulting in higher costs for large-scale retail chains. It seems Edenred also imposed other unfavourable conditions, such as longer voucher reimbursement periods.

Greater operational complexity and higher costs for large-scale retail chains may lead to higher prices for consumers and affect the proper functioning of the market.

The Authority’s officials, assisted by the Special Antitrust Unit of the Italian Financial Police (Guardia di Finanza), carried out inspections yesterday at the premises of Edenred Italia S.r.l. as well as at the premises of the other major meal voucher issuing companies and of some third-party interconnection system providers, deemed to hold documents relevant to the investigation.

Rome, 26 March 2026

Text of the decision

The final event was attended by the Authority’s Chairman, Roberto Rustichelli. A video message was delivered by the Minister for Enterprises and Made in Italy, Adolfo Urso.

The Italian Competition Authority and the Ministry for Enterprises and Made in Italy have concluded their #convieneSaperlo (anche a scuola) 2025-2026 awareness raising campaign for schools with a final event at the Auditorium Parco della Musica in Rome. The event brought together 450 lower and upper secondary school pupils from across Italy and was attended by the Authority’s Chairman, Roberto Rustichelli.

“The Italian Competition Authority has long been committed to engaging with schools and helping to raise students’ awareness of their consumer rights,” said the Authority’s Chairman, Roberto Rustichelli. “This competition is part of that effort, reflecting our strong belief in the need to engage with young people. They are the consumers of tomorrow, but already play an active role in purchasing decisions today. With the skills they acquire, they can also act as ambassadors for the Authority among their families and friends”.

THE SCHOOL COMPETITION

At the heart of the #convieneSaperlo (anche a scuola) 2025-2026 campaign was a competition for secondary school pupils, focused on the role of the Italian Competition Authority, consumer rights and the safeguards against unfair commercial practices. Following study sessions and online exercises on a dedicated platform, 1,435 pupils from participating classes took part in a Quiz Day at the end of January, competing in a final multiple-choice quiz. At the closing event, students then competed in a rapid-response quiz, which determined the three individual prize winners in each category, followed by a case study exercise for the three semi-finalist classes and a head-to-head final between the top two classes in each category to decide the winners of the school prize.

The top three schools received vouchers for school equipment worth €10,000 (including a €50 book voucher for each student in the class), €6,000 and €3,000 respectively. Individual prizes were also awarded, with the top performers in the final rounds receiving vouchers – to be spent on technology, culture, education and sport – worth €1,500, €1,000 and €500 for first, second and third place.

Further information is available at https://convienesaperlo.agcm.it/.

Rome, 25 March 2026

Online review platform provided consumer rating information not always representative of customers’ actual experiences

The Italian Competition Authority has imposed a 4 million euro fine on Trustpilot Group Plc, Trustpilot A/S and Trustpilot S.r.l. for engaging in an unfair commercial practice.

The investigation revealed that the companies failed to carry out adequate checks to ensure the authenticity of the reviews published on their platform, including where such reviews were labelled by Trustpilot as verified. The Authority found that the review collection services offered by the platform – promoted as tools to reduce the risk of false or misleading content and to ensure greater system integrity – actually allow businesses to select the consumers to whom review invitations are sent, with implications for the overall representativeness of the published ratings.

The Authority also established that Trustpilot failed to ensure consumers had adequate access to key information regarding the functioning of the platform, the use of paid-for services by businesses featured on the platform and other aspects relevant to consumer decision-making.

Taken together, these conducts – also implemented using interface design techniques typical of dark patterns – amount to a misleading practice, in breach of articles 20, 21, 22, 23(1)(bb-ter) of the Consumer Code.

Rome, 23 March 2026

Text of the decision

QC technologies are expanding rapidly, with significant growth expected in the coming years. The Authority aims to examine a number of possible competition concerns in the sector.

The Italian Competition Authority has launched a market investigation into the Quantum Computing (“QC”) sector, an emerging computing technology with the potential to transform how complex problems are addressed compared to current computing standards, with applications already developing in cybersecurity, biotechnology, materials design, production process optimisation and fintech.

QC technologies are expanding rapidly, with strong growth expected in the coming years, in a field where the boundaries between hardware and software – both at the level of production and distribution – are far less clearly defined than in traditional computing. The sector features both global big tech companies providing cloud-based services – potentially including QC – and small to medium-sized players, often still start-ups, focused on developing specialised technologies and services.

Against this backdrop of rapid development, the Authority aims to examine a number of possible competition concerns, also in light of issues observed with the widespread adoption of AI. These include significant economic, technological and knowledge-related barriers to entry, lock-in risks and, more broadly, the potential for technological pre-emption across an entire strategic sector, especially given the current rapid pace of patent filings.

Overall, the market investigation aims to provide a timely overview of potential risks and issues, given the significant investments and expectations surrounding the sector both at national level and across the European Union.

Alongside the inquiry, the Authority has also launched a public consultation (Call for inputs)  on the issues outlined in the decision opening the market investigation. Stakeholders may submit their feedback – in Italian or in English – no later than 30 April 2026 at the following e-mail address: [email protected].

Rome, 17 March 2026

Text of the decision

Key changes include: extension of the validity period to three years; additional score for companies that have already renewed their rating continuously over at least three rating periods; issuance of the certificate in English.

The new Implementing Regulation on the Legality Rating (AGCM decision No. 31812 of 27 January 2026) enters into force today. The new Regulation has been published in the Official Gazette (No. 33 of 10 February 2026) and in the Authority’s Bulletin (supplement to Bulletin No. 6 of 10 February 2026). On 10 February, the Notice providing guidance on the new regulatory framework, including the interim provisions, as well as the updated FAQs were made available to companies in Italian.

The new Regulation introduces several key changes, including:

• a three-year validity period for legality ratings awarded or renewed under the new framework;
• an additional score for companies applying for renewal that have already held the rating continuously over at least three rating periods;
• the issuance of the legality rating certificate also in English, making it easier to use in international markets.

Moreover, the legality requirements and information obligations have been strengthened in order to preserve the incentive-based nature of the rating. Starting today, companies must use the new Forms and Templates available in Italian on the WebRating platform and on the Legality Rating section of the Authority’s website. Companies have until 15 April 2026 to renew any pending applications. Applications not renewed by that date will be deemed withdrawn, but a new application may be submitted at any time (points 14-17 of the Notice to companies). Companies holding a rating as at 16 March 2026 must notify the Authority by 15 May 2026 of any events that occurred before the entry into force of the new Regulation and that would prevent the rating from being maintained under the new rules (points 18-21 of the Notice to companies). Such notification must be submitted using the Template available on the Authority’s website.

Further details and the relevant online procedures are available in Italian in the Legality Rating section of the Authority’s website.

Rome, 16 March 2026

Investigation launched in March 2025 over possible abuse of a dominant position centred on RFI’s procedures for allocating capacity on high-speed rail network

The Italian Competition Authority has accepted and made binding the commitments offered by Rete Ferroviaria Italiana S.p.A. (“RFI”) in the context of its investigation into barriers to entry in the rail transport market. This decision marks a significant step forward for the high-speed rail market, since it promotes greater competition through the entry of a third operator and creates new opportunities to improve services, quality and competitiveness to the benefit of passengers. Opened in March 2025, the investigation examined a possible abuse of dominant position under Article 102 TFEU and centred on RFI’s procedures for allocating capacity on the high-speed rail network. These procedures were deemed potentially capable of hindering access to the national rail infrastructure and, in turn, the entry of new operators into the high-speed passenger transport market. The commitments now approved introduce significant changes.

First of all, RFI will assign the new entrant a minimum access package of 18 train paths on high-speed routes (Turin/Milan/Rome – Turin/Milan/Venice), ensuring their stability for ten years. This measure is intended to make the new operator’s entry into the market both effective and sustainable. In addition, RFI will amend the rules set out in its Network Statement to bring them expressly in line with European principles on the efficient use of infrastructure, the protection of passengers’ needs and the promotion of competition. A transitional framework will be adopted immediately to protect the “new entrant” and future entrants, granting them priority in the allocation of available or underused capacity to support a gradual and effective expansion of their services.

In the Authority’s view, these measures address the competition concerns identified at the start of the investigation. They ensure fair, transparent and non-discriminatory access to the high-speed rail network, making the market more open and competitive to the benefit of passengers and the wider system.

Rome, 6 March 2026

Text of the decision

Text of the commitments

Investigation launched in December 2024 now closed following the acceptance of commitments addressing the Authority’s concerns.

The Italian Competition Authority has accepted FiberCop and TIM’s commitments, thereby closing its investigation into the Master Service Agreement (MSA) signed by the two companies following the divestment of the network in July 2024. The commitments were accepted after an extensive consultation process involving stakeholders across the sector – including through a market test – as well as the Italian Communications Authority (AgCom). This process sought to secure effective competition across retail and wholesale markets while maintaining appropriate incentives for future investments by market operators.

The investigation, opened on 17 December 2024, focused on specific provisions of the agreement. These included exclusivity clauses between TIM and FiberCop for network access services, rebate schemes granted by FiberCop on network access prices, and the terms governing the transfer of indefeasible rights of use (IRUs) for fibre lines serving business customers. The Authority had opened the investigation amid concerns that the agreement could restrict competition in both wholesale and retail markets, weaken incentives for future investments by market operators in fibre infrastructure (FTTH), and affect the migration of TIM’s customers from copper to fibre networks.

Given the differing levels of network deployment across the country – in terms of the type of technology used and the degree of infrastructure-based competition – the Authority sought to promote both static and dynamic competition. This applies both in areas where competing FTTH networks already operate alongside the incumbent, and in areas with weaker infrastructure-based competition, where further investments need to be encouraged, while ensuring that customers remain free to switch between operators.

Against this background, the commitments significantly reduce the duration of the exclusivity clauses. In areas where the FTTH network remains underdeveloped, they also make exclusivity conditional on new investments. The parties have also agreed to substantially revise the mechanism – as originally envisaged in the MSA – allowing FiberCop to provide intermediation services in connection with migration requests from TIM’s customers. The revised framework safeguards TIM’s independence and addresses concerns that the mechanism might have discouraged migration. The Authority also found the changes to the rebate scheme sufficient to address its concerns.

Rome, 23 February 2026

Text of the decision

Text of the commitments_FiberCop

Text of the commitments_TIM