Greece Issues €610,000 in Fines for Misleading Black Friday Ads

In a significant crackdown on deceptive advertising, Greece’s Development Ministry announced on Monday that it has imposed fines totaling €610,000 on four companies for misleading Black Friday promotions. These penalties come as part of broader efforts to enforce market regulations ahead of the November 29 sales event.

The Fines
The ministry’s auditing service utilized advanced digital tools to uncover violations among 14 companies in the lead-up to Black Friday. Among the fined businesses, A.X.F., a women’s fashion retailer, received the largest penalty of €400,000. Online pharmacy ToFarmakeioMou was fined €100,000, while Pharmacy Discount and Trade Status, a retailer specializing in baby and children’s clothing, were each penalized €55,000.

The names of additional offenders will be made public once they have been formally notified of their violations, the ministry stated. However, it clarified that two companies with fines below €50,000 would not have their identities disclosed, in line with legal requirements.

In total, the ministry has levied €2.2 million in fines against the 14 companies found guilty of breaching market rules. On November 29, an initial list of five violators was revealed, including Kosmos Sport SA (€500,000), Attica Department Stores (€400,000), La Vie en Rose (€300,000), Notos Com Participation (€200,000), and Sneakers Market (€55,000).

Consumer protection in Greece
The ministry emphasized that inspections are ongoing, aiming to safeguard consumers and ensure fair competition in the marketplace.

The recently announced fines are part of greater efforts, announced last year by the Ministry, to crack down on companies charging excessive prices in several categories of household products, misleading advertising, and scams related to periodic sales periods throughout the year.

Several companies that have been hit with fines have reactly negatively and said they will seek legal action. For example, Attica Department stores noted in its defence that only one out of 30,000 products on its e-shop was found to be in violation of Greek consumer protection laws. The issue in pricing was caused by a technical error, was quickly corrected, and none of the items had been sold at the erroneous price.