Dec 6, 2017

Luxury brands win right to stop sales on Amazon in Europe

Photo: Elise Amendola / AP

The European Court of Justice ruled Wednesday that luxury brands have the right to prevent retailers from selling their products on third-party marketplaces like Amazon.com if the restriction is motivated by the desire to preserve the brand's exclusive image.

Why it matters: Brands have chafed at their inability under U.S. law to prevent retailers, who sometimes acquire products without the brands' consent, from reselling that merchandise through online marketplaces.

"The quality of luxury goods is not simply the result of their material characteristics, but also of the allure and prestigious image which bestows on them an aura of luxury," the decision reads, further arguing that restricting where luxury goods are resold isn't anticompetitive, but necessary to protect the integrity of the product.

The ruling resulted from a suit in which U.S.-based Coty, which manufacturers luxury cosmetics brands like like Marc Jacobs and Chloe as well as more mainstream brands like Covergirl, argued that German retailer Parfümerie Akzente was violating the terms of its contract by reselling its brands on Amazon.com.

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Sen. Kelly Loeffler liquidates stocks after uproar over coronavirus sell-off

Sen. Kelly Loeffler. Photo: Madnel Ngan/AFP via Getty Images

Sen. Kelly Loeffler (R-Ga.) and her husband Jeffrey Sprecher are liquidating their stock portfolio and moving holdings into exchange traded funds (ETFs) after coming under fire for purchasing and selling roughly $1.4 million in stock just before the market crashed in response to the coronavirus pandemic.

Why it matters: Loeffler, who faces a competitive reelection fight in November, is one of several senators under fire for selling shares shortly after a private briefing on the coronavirus — sparking accusations of insider trading.

Sanders: "While this campaign is coming to an end, our movement is not"

Addressing his supporters via livestream after suspending his campaign, Bernie Sanders congratulated Joe Biden on his presumptive victory in the 2020 Democratic presidential primary while making clear that his fight for progressive ideas will not end with his candidacy.

What he's saying: "While this campaign is coming to an end, our movement is not. Dr. Martin Luther King Jr. reminded us that 'the arc of the moral universe is long, but it bends towards justice.' The fight for justice is what our campaign has been about. The fight for justice is what our movement remains about."