Atty. Gen. Bonta says evidence reveals how Amazon pressured Levi's, other retailers to hike prices [Los Angeles Times (CA)]
Levi Strauss & Co Class A (LEVI)
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Source: Los Angeles Times
So Amazon contacted Levi Strauss about two “styles of concern,” asking the San Francisco apparel company to convince Walmart to raise its price, according to a document filed Monday in a price-fixing case brought against Amazon by the California Atty. Gen. Rob Bonta. Not only did Walmart raise its price, but a Levi Strauss employee emailed Amazon that, “I'm really hoping we can show this as a proof case so we can resolve issues going forward,” according to the filing. The exchange over the pricing of the khaki pants is just one example of about a dozen cited in the document, filed in support of a preliminary injunction Bonta is seeking against Amazon to stop the alleged price fixing. Bonta's office argues that Amazon, which is the largest online retailer in the U.S. and recorded $717 billion in global sales last year, is leveraging its market power to inflate retail prices on its and competing sites. “The company is price fixing, colluding with vendors and other retailers to
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