Attica Department Stores, a prominent retail chain in Greece, has been hit with a hefty €400,000 fine by the Ministry of Development for allegedly violating Greek law N.2251/94 and misleading consumers through discounts, according to a report by Greek financial news site Euro2day.gr.
The fine is connected to an inspection during the sales period of July 2024 and was announced on Black Friday, four months after the incident.
The alleged violation pertains to a cosmetic product sold online at a price higher than its 30-day historical low. The law aims to protect consumers from deceptive practices, such as artificially inflating prices to offer misleading discounts during Black Friday or sales periods.
With flagship stores at City Link in downtown Athens and locations in Golden Hall, The Mall Athens, and Piraeus, as well as a prominent presence in Thessaloniki on Tsimiski Street, Attica is one of Greece’s most well-known department store chains. It offers a vast array of products and employs over 2,200 people, with an additional 300 business partners relying on its operations.
In its defense, the company argued that the issue was a technical error affecting one product out of the 30,000 listed on its website. They claimed no consumers were harmed, as no purchases were made at the incorrect price. Moreover to prevent future errors, the company said it invested €30,000 in automated price-checking software.
While this case highlights Greece’s committment and heightened efforts to protect consumers from deceptive practices in the retail sector, Attica’s management contests the fine as disproportionate and questions the timing of the announcement during Black Friday sales.
Euro2day.gr says Attica is prepared to challenge the decision through legal means, aiming to protect its reputation and workforce.
