SpaceX Mobile Network Could Cost Up to $130 Billion, Bernstein Says 
Aon Nears $17 Billion Deal to Buy USI Insurance From KKR 
Apple’s Phil Schiller Steps Back as Leadership Shake-Up Accelerates 
Honda, Nissan Eye Shared Vehicle Software Platform by 2029 
France Targets Shein, Temu With Fast-Fashion Fees 
OpenAI Nears Astra AI Model Launch With Safety Focus 
South Korea Unveils Record $597 Billion 2027 Budget to Boost AI and Chips 
MediaTek Shares Jump 10% on Nvidia’s $3.5 Billion Investment 
GM Canada Workers Approve C$1.1 Billion Investment Deal 
Pinterest Stock Falls as CFO Julia Brau Donnelly Resigns 
CATL Shares Fall as Hungary Plant Faces Safety Halt 
CIA-Linked Investor Helped Quantum Systems Expand in US 
OpenAI Rejects Apple Trade Secret Theft Claims 
Lenovo Shares Fall After Dropbox Security Breach Exposes ID Vulnerability 
BP Names Ian Tyler Permanent Chairman After Governance Shake-Up 
Star Entertainment Shares Fall After A$307 Million FY2026 Loss 
Street Poller Media and The Boom of the Street Interview Ad Industry 
Add as a preferred source on Google
Chanel, Hermes, and Nike have made changes to rectify what were cited as unfair business practices concerning customers. The changes were In response to a review by the Fair Trade Commission (FTC), the nation's antitrust agency,
The FTC deemed certain terms imposed by the brands as "unconditional" and in violation of local laws on contract terms, as per Korea Times.
FTC Upholds Customers' Rights
Chanel Korea announced that it would no longer deprive customers of their memberships based on presumed shopping patterns aimed at reselling. Similarly, Nike Korea stated that it would restrict orders or cancel contracts with customers only if the company believes that the customer's intent is to resell the products.
Disputing the brands' claims that resale could cause harm to other customers, the FTC firmly asserted that customers have the right to decide whether to resell the products in question. The antitrust agency maintained that the restriction of resale by the brands contradicted local laws, which safeguard customers' autonomy over their possessions.
In light of the FTC's review, Chanel, Hermes, and Nike addressed a total of 10 unfair terms concerning customers. Additionally, the FTC ordered the brands to rectify other unjust terms discovered as well.
Editing Reviews and Copyright Infringement
Chanel previously retained the right to edit online product reviews, while Nike possessed rights over reviews posted by customers. The FTC argued that such terms could potentially infringe on the copyrights held by customers. To comply with the FTC's order, both brands revised their policies to require consent from customers for the use of their online reviews.
Customers' Data Protection
Adding to Chanel Korea's recent compliance issues, the brand was fined 3.6 million won ($2,770) by the Personal Information Protection Commission for improperly collecting personal information from customers, according to Korea Joongang Daily. The violations included the collection of birth dates, residence locations, and contact numbers from customers waiting in line at an offline Chanel store.
Photo: Craig Lovelidge/Unsplash
