Inside information: Administrative fine imposed on Verkkokauppa.com

Verkkokauppa.com Oyj         INSIDE INFORMATION         15 March 2024 at 19:45 EET

Verkkokauppa.com Oyj has today been informed that the Office of the Data Protection Ombudsman’s Sanctions Board has by its decision imposed an administrative fine of 856,000 euros on the Company. The administrative fine is based on the Data Protection Ombudsman’s interpretation, according to which the company would have failed to specify the retention period for the online store’s customer data in compliance with the EU’s General Data Protection Regulation.

In its submission to the Office of the Data Protection Ombudsman in December 2023, Verkkokauppa.com has stated that it had determined that essential basic customer data would be kept for the duration of the customer relationship, based on the nature of the business, in which customers are among others sold products with a significant lifespan. Moreover, the Company has already, prior to being informed of the Office of the Data Protection Ombudsman's decision, taken independent steps to delete inactive customer data (i.e. for customers, who have not made purchases in the company’s online store in the past six years) and purchase history data more than ten years old.

Verkkokauppa.com considers the administrative fine to be unfounded and will appeal the decision to the Administrative Court. The decision is not legally binding.

Verkkokauppa.com Oyj

For more information, please contact:

Robert Tallberg, Head of Legal
Verkkokauppa.com Oyj
robert.tallberg@verkkokauppa.com
Tel. +358 50 5700 858

Verkkokauppa.com is an e-commerce pioneer that stands passionately on the customer’s side. Verkkokauppa.com accelerates the transition of commerce to online with Finland’s fastest deliveries and ultimate convenience. The company leads the way by offering one-hour deliveries to almost 700,000 customers, a winning assortment and probably always cheaper prices. Everyday, the company strives to find more streamlined ways to surpass its customers´ expectations and to create a new norm for buying and owning.

Verkkokauppa.com was founded in 1992 and has been online since day one. The company’s revenue in 2023 was EUR 503 million and it employs around 700 people. Verkkokauppa.com is listed on the Nasdaq Helsinki stock exchange.