Bike importer Hornet Industries admits to breaking resale price laws
Bike importer and distributor Hornet Industries has admitted to likely breaching regulations on resale prices by preventing its independent resellers from offering products below a specific rate.
The company said it had offered to enter such agreements with independent resellers in Australia from March 2021 to December 2022. The agreements were similar to those used in the US.
The Australian Competition & Consumer Commission (ACCC) says it is illegal for suppliers to prevent, or attempt to prevent, resellers from advertising or selling goods or services below a specified price.
“Businesses that operate internationally must ensure their agreements comply with Australia’s competition and consumer law before offering them to other businesses in Australia, including smaller businesses such as dealers or resellers,” said ACCC deputy chair Mick Keogh.
Hornet Industries has submitted a court-enforceable undertaking to the ACCC, stating it would inform its resellers about the withdrawal of the agreements containing minimum price requirements.
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