Morellato policed distributors' discounts for 7 years — a whistleblower ended it

Morellato, Italy's largest jewelry and watch group with brands including Morellato, Philip Watch, Sector No Limits and licensed lines for Esprit and Trussardi, ran a selective distribution system that told authorized retailers how much they could discount online and barred them from selling on third-party marketplaces like Amazon and eBay. Between July 2018 and December 2025, the company enforced this through continuous price monitoring, warnings, demands to remove discounts, automatic blocking of orders and Amazon accounts, and threats to end contracts with retailers who did not comply.

The conduct came to light on 18 March 2025 when the AGCM opened a formal antitrust proceeding after receiving a complaint through its whistleblower platform. A year of investigation followed. On 17 March 2026 the authority issued decision I876, finding Morellato had violated Article 101 of the Treaty on the Functioning of the European Union by fixing resale prices and imposing a discriminatory marketplace ban within its distribution network — the first Italian ruling of its kind under the EU's revised vertical-agreements framework.

The AGCM fined Morellato €25,895,043, one of the largest resale-price-maintenance penalties issued by an Italian regulator. Morellato said it would appeal the ruling.

The group capped discounts and banned marketplaces for seven years, until a whistleblower complaint brought a record €25.9M antitrust fine.

Enforcement via warnings, order blocks and threats is coercion, not advice.

Blanket marketplace bans are hardcore restrictions, not selective distribution.

Seven years without review compounded exposure and fine.

One whistleblower complaint triggered the proceeding.

Capping discounts and banning marketplaces by contract is price-fixing, not selective distribution. A whistleblower ended it.

The AGCM's March 2026 decision was its first Italian fine combining resale price maintenance with a marketplace ban under the EU's revised distribution rules, making it a reference case for other selective-distribution systems in the jewelry and watch sector. Morellato said it would appeal the €25.9 million fine.