UK’s competition watchdog is investigating high-end model agencies to see whether they band together to fix high prices for the talent they manage.
So the days of Linda Evangelista’s famous quote — “I don’t get out of bed for less than $US10,000” — might be coming to an end soon.
The Competition and Markets Authority can levy a fine of up to 10% of worldwide revenue, if they it finds the agencies have indeed been fixing the model market.
The Evening Standard reported plain clothes’ officers raided the London premises of top agencies such as Storm Model Management and Premier Model Management.
Storm has models such as Kate Moss and Jourdan Dunn on their books while Premier has looked after Naomi Campbell and Cindy Crawford.
The CMA didn’t comment beyond the terse statement on its website:
The CMA has opened an investigation into suspected anti-competitive arrangements in the UK modelling sector which may infringe Chapter I of the Competition Act 1998 and/or Article 101 of the Treaty on the Functioning of the European Union.
The investigation was opened in March and officials will decide in October whether to proceed with a case against the agencies.