The company released 73 product codes (pen, pencils, markers, erasers and erasers) with a higher gross profit margin than allowed
A fine of 230,150 euros is imposed, by decision of the Minister of Development Kostas Skrekas to the company “BIC VIOLEX M.A.E.”, because it allocated school supplies breaching the ceiling on gross profit margin.
Specifically, as announced by the Ministry of Development, in audits carried out by auditors of the Interdepartmental Market Control Unit (DIMEA) they found that “BIC VIOLEX M.A.E.” made available 73 product codes (pen, pencils, markers, erasers and erasers) with a higher gross profit margin than allowed.
Therefore, a fine of 230,150 euros is imposed on the company, i.e.,twice the benefit he received from the sale of these products, in violation of gross margin laws.
In his statement, the Minister of Development, Kostas SkrekasHe noted: “When we extended the provision to lock in gross profit at 2021 levels to more products, including school supplies, we committed to strict controls across the entire supply chain. We made it clear then that no company, no matter how big, is going to escape our scrutiny and certainly the penalties if found to be breaking the law.
The control mechanisms of the Ministry of Development responded adequately to their mission and now the total amount of the fines have been imposed in 2023 approaches 5.5 million euros, more than 15,000 checks have been carried out, while currently over 5,000 products are being checked.
I want to emphasize once again that those who break the law, especially in these difficult times, and profit at the expense of consumers will pay dearly, as the fines far exceed the unfair profit intended. The Ministry of Development with all the control mechanisms at its disposal and utilizing technology will continue with undiminished intensity the controls and the enforcement of the law, so that it becomes clear and awareness arises that greed costs money and cannot be tolerated. Compliance with legality and the rules of healthy competition is not a favor but a non-negotiable obligation”.
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