Outdoor specialist The North Face has been handed a £2.8m fine for price-fixing.

Regulators decided that the retailer forced sales outlets and agents in South Korea to sell its apparel at a fixed price between November 1997 and January 2012.

The Fair Trade Commission said: “Retailers have the right to adjust product prices freely. But the North Face restricted their freedom with the policy, which is illegal.”

The retailer is said to have punished sales outlets that refused to follow its price guidelines by ending contracts and withholding supplies.

The North Face denied all charges made against it and is considering an appeal according to reports. The Fair Trade Commission’s decision is legally binding and the outdoor retailer must take the case to a South Korean court to overturn it.