Bulgaria’s Commission for Protection of Competition (CPC) fined House Market Bulgaria AD, holder of the IKEA retail brand, with BGN 347 505 for misleading advertising, said the anti-monopoly watchdog.

The sum is 0.5% of the income of the company for 2013.

The inspection was prompted by a consumer complaint who claimed IKEA was misleading consumers for the price of a shelf, advertised through billboards in the store.

The CPC found that for two months this summer IKEA was advertising through billboards and promotional leaflets “a BILLY shelf” for the price of BGN 79. It turned out, however, that during the period the shelf in question was not available. Instead the store was offering a very similar shelf with the same name for the price of BGN 100.

“Thus the company advertises a product with a lower than the actual price, misleading consumers and stimulating them to buy a product for a higher price,” the CPC said. “Such behaviour is contradicting good trade practices and may harm the competition.”