BRUSSELS (Reuters) – Europe’s luxury brands want EU regulators to take a tougher line against online retailing giants like Amazon and Alibaba on issues like data protection and counterfeiting, the head of a leading industry group said.
FILE PHOTO: The logo of Amazon is seen at the company logistics centre in Boves, France, August 8, 2018. REUTERS/Pascal Rossignol/File Photo
The call by Andreas Kaufmann, president of the European Cultural and Creative Industries Alliance (ECCIA) and chairman of Germany’s Leica Camera AG, comes as the European Commission overhauls its regulatory and policy approach to tech companies.
“The internet at the beginning was free for anyone. It’s not now, it’s driven by market power, it has to be regulated,” Kaufmann told Reuters in an interview.
Europe’s luxury brands contribute about 800 billion euros ($887.5 billion) in revenue annually to the economy, accounting for 4% of its gross domestic product, and employ over 2 million people.
Source Reuters Tech News