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Levi

Full company profile

uuid002bne1

Namestring
Levi
Legal namestring
Levin Matkailu Oy
Websiteurl
levi.fi
Company typeenum
Private
Founded yearint
1976
Descriptiontext

Levi is a Finnish ski resort and year-round tourism destination located in Kittilä, Finnish Lapland, operated through a joint arrangement between two private Finnish limited companies — Levin Matkailu Oy (doing business as Visit Levi) and Oy Levi Ski Resort Ltd. The destination is Finland's largest winter resort, with 44 slopes, 26 ski lifts, 230 km of cross-country trails, freestyle facilities, and a destination-scale infrastructure footprint of approximately 700 accommodation properties, 25,000 beds, 105 special accommodations (igloos and unique lodging), and 60 restaurants.

The company's commercial surface is a tourism aggregation and booking platform at levi.fi, connecting visitors with accommodation providers and activity operators across all seasons. Core product lines include ski lift access and snow sports, accommodation booking, guided activity reservations (husky sledding, snowmobile tours, hiking, kayaking, golf, fishing, cultural attractions), summer experiences built around the midnight sun phenomenon, and spa and wellness services (17 pools at Levi Hotel Spa). The destination also hosts signature events such as the Midnight Sun Hunt treasure hunt, Bike & Outdoor Fest, and Ruskamaraton marathon.

The business model centers on destination marketing and ticket/booking monetization rather than direct ownership of most supply: the operating entity (11–50 employees) earns lift-pass revenue, booking commissions, and tourism marketing fees, while the underlying accommodation and activity inventory is largely owned by third-party operators aggregated on the platform. The 2025/26 winter season delivered a record 599,000 ski ticket-days with 26% international visitors, and a €60 million hotel expansion announced for 2027–2029 construction signals continued capacity deepening. Revenue is not publicly disclosed and the company is privately held with no identified venture capital, private equity, or external institutional ownership.

Short descriptiontext

Levi is Finland's largest ski resort and year-round tourism destination in Kittilä, Lapland, operating the levi.fi booking platform to aggregate ~700 accommodation properties, 44 slopes, and seasonal activities for 750,000 annual domestic and international visitors.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
11–50
akta.pro rankint
HeadquartersSirkka, Finland
HQ citystring
Sirkka
HQ countrystring
Finland
HQ regionstring
Europe
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
ski resort services, arctic tourism booking, Lapland accommodations, winter sports destination, guided outdoor activities
Industry6 codes
1Ski & Mountain Full-Service Hotels
CodeTHAGAAAJPrimaryNo
2Luxury Chalets & Ski-In/Ski-Out Homes
CodeTHAMAEADPrimaryNo
3Mountain & Alpine Lodges
CodeTHAGAIAEPrimaryNo
4Mountain & Ski Luxury Resorts
CodeTHAGACABPrimaryNo
5Mountain & Ski Homes
CodeTHAMAAAGPrimaryNo
6Winter Adventure & Mountain Resorts (Ski, Snowboard, Snow Activities)
CodeTHAAAAAKPrimaryNo
NAICS code2 codes
  • Skiing Facilities71392
  • Skiing Facilities713920
SIC code3 codes
  • Hotels, Rooming Houses, Camps & Other Lodging Places7000
  • Services-Amusement & Recreation Services7900
  • Services-Miscellaneous Amusement & Recreation7990
Product category
Ski Resort & Lapland Tourism Services
Marketing channels4 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels2 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Operations, Personnel, Infrastructure, Marketing or Sales, Supply Chain
GTM typeB2C
B2C
Offering typeServices
Services
Core offering1 text field

Levi operates Finland's largest ski resort and functions as a year-round tourism booking platform for the Levi resort area in Kittilä, Finnish Lapland. Through levi.fi, visitors can search and book ~700 accommodation properties (hotels, cottages, apartments, igloos) and reserve guided activities such as husky sledding, snowmobile tours, hiking, kayaking, and aurora-viewing. Resort operations include 44 slopes and 26 ski lifts, cross-country trails, freestyle facilities, and event-based tourism campaigns.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 2 values shown
  • 750,000 annual visitors demonstrating strong tourism appeal
+1 more record
Product overview1 text field

Levi is a Finnish ski resort destination operated by Visit Levi (Levin Matkailu Oy) and Levi Ski Resort (Oy Levi Ski Resort Ltd), offering a unified tourism platform for booking accommodations (cottages, igloos, hotels, apartments), ski resort access, and guided activities across all seasons. The core products include ski passes and slope access, accommodation booking across approximately 700 properties, and activity reservations. Additional offerings encompass spa services, event venues, and summer outdoor experiences.

Product and service3 records
1Skiing and Snow Sports
CategoryWinter sports operations
Description

Alpine skiing, snowboarding, and freestyle facilities at Finland's largest ski resort, including 44 slopes, 26 ski lifts, 230 km of cross-country trails, South Park, Alpine Training Park, and off-piste areas for visitors to Levi.

2Accommodation Booking Platform
CategoryAccommodation marketplace
Description

Online search and booking of cottages, vacation apartments, igloos, and hotels across approximately 700 properties in the Levi resort area, accessible to visitors via levi.fi.

3Activity and Experience Booking
CategoryExperience and activity marketplace
Description

Reservation service for guided year-round activities including husky sledding, snowmobile tours, hiking, kayaking, golf, fishing, and cultural attractions for tourists visiting the Levi area.

Scale indicator10 records

Each record includes

Type, Value, Description, Source

Partnership4 partners
1Visit Levi
Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-06-09
Description

Visit Levi is the official marketing organization for the Levi resort area, organizing tourism promotion and events including the Midnight Sun Hunt treasure hunt campaign.

independent.co.uk
Strategic tierMinorTypeStrategic or Co-development PartnerAnnounced on2026-06-09
Description

Mining company partnering with Visit Levi for the Midnight Sun Hunt treasure hunt campaign as part of local corporate sponsorship.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-06-09
Description

Finland's largest ski resort operator, jointly organizing tourism events and campaigns with Visit Levi. The €60 million investment plan announced represents the largest single investment in the resort's history.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-05-27
Description

Levi Ski Resort announced €60 million investment for new 14,000-square-metre hotel complex with 250 rooms near Zero Point, construction planned for spring 2027 to spring 2029.

Recent move4 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight2 records

Each record includes

Type, Description

Peers7 records
TypeEmerging player
Description

Iconic Swedish Lapland destination in Jukkasjärvi combining year-round ice accommodations with northern lights and Arctic activities. Comparable to Levi's aurora/midnight sun-driven Lapland value proposition but with a more experiential, niche lodging focus.

TypeBroad incumbent
Description

Scandinavia's largest ski resort operator, publicly listed, with integrated mountain destinations across Sweden, Norway, and Austria. Operates similar slopes, lifts, lodging, and year-round activity offerings but at significantly larger scale and with owned/leased accommodation inventory.

TypeRegional player
Description

Finland's largest privately owned hotel chain focused on Lapland destinations, operating multiple properties across northern Finland. Comparable to Levi's lodging aggregation strategy and Lapland-focused guest base, with stronger owned-hotel integration.

TypeDirect peer
Description

One of Finland's largest ski resorts located in Kolari, Finnish Lapland, offering extensive slope infrastructure and year-round Arctic experiences. Closest direct competitor to Levi within Finland's largest-resort tier, sharing the same aurora- and Lapland-seeking international guest base.

TypeDirect peer
Description

Another major Finnish ski resort in Kuusamo, also marketed as a year-round destination with extensive slopes, lifts, and Lapland/Northern Finland experiences. Directly comparable to Levi in scale, geography (Finnish Lapland border), and winter + summer tourism model.

6Levi Ski Resort lift operations parent / competitor set
TypeOthers
Description

SkiResort.info is a leading European ski resort comparison and data platform covering thousands of resorts including Levi, Ruka, Ylläs, and Alpine competitors. Useful industry index peer for benchmarking Levi against other European ski destinations on metrics like slope km, lifts, and visitor volume.

TypeDirect peer
Description

Finnish Lapland resort area in Inari municipality offering skiing, aurora tourism, and Sami cultural experiences. Smaller ski infrastructure than Levi but competes for the same aurora-driven international visitor segment.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment1 record

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Levi

Ski Resort & Lapland Tourism Serviceslevi.fi

Levi is Finland's largest ski resort and year-round tourism destination in Kittilä, Lapland, operating the levi.fi booking platform to aggregate ~700 accommodation properties, 44 slopes, and seasonal activities for 750,000 annual domestic and international visitors.

What Levi does

Levi is a Finnish ski resort and year-round tourism destination located in Kittilä, Finnish Lapland, operated through a joint arrangement between two private Finnish limited companies — Levin Matkailu Oy (doing business as Visit Levi) and Oy Levi Ski Resort Ltd. The destination is Finland's largest winter resort, with 44 slopes, 26 ski lifts, 230 km of cross-country trails, freestyle facilities, and a destination-scale infrastructure footprint of approximately 700 accommodation properties, 25,000 beds, 105 special accommodations (igloos and unique lodging), and 60 restaurants.

The company's commercial surface is a tourism aggregation and booking platform at levi.fi, connecting visitors with accommodation providers and activity operators across all seasons. Core product lines include ski lift access and snow sports, accommodation booking, guided activity reservations (husky sledding, snowmobile tours, hiking, kayaking, golf, fishing, cultural attractions), summer experiences built around the midnight sun phenomenon, and spa and wellness services (17 pools at Levi Hotel Spa). The destination also hosts signature events such as the Midnight Sun Hunt treasure hunt, Bike & Outdoor Fest, and Ruskamaraton marathon.

The business model centers on destination marketing and ticket/booking monetization rather than direct ownership of most supply: the operating entity (11–50 employees) earns lift-pass revenue, booking commissions, and tourism marketing fees, while the underlying accommodation and activity inventory is largely owned by third-party operators aggregated on the platform. The 2025/26 winter season delivered a record 599,000 ski ticket-days with 26% international visitors, and a €60 million hotel expansion announced for 2027–2029 construction signals continued capacity deepening. Revenue is not publicly disclosed and the company is privately held with no identified venture capital, private equity, or external institutional ownership.

Levi firmographics

Firmographics
Name
Levi
Legal name
Levin Matkailu Oy
Website
https://levi.fi
Company type
Private
Founded year
1976
Operating status
Operating
Headcount range
11–50 employees
Short description
Levi is Finland's largest ski resort and year-round tourism destination in Kittilä, Lapland, operating the levi.fi booking platform to aggregate ~700 accommodation properties, 44 slopes, and seasonal activities for 750,000 annual domestic and international visitors.
Ownership category
akta.pro rank

Where Levi is headquartered

Location

Headquarters

HQ city
Sirkka
HQ country
Finland
HQ region
Europe

Offices1 record

Markets served

Levi business model

Business model
GTM type
B2C
Offering type
Services
Cost components
Operations, Personnel, Infrastructure, Marketing or Sales, Supply Chain

Distribution channels2 records

Marketing channels4 records

Levi product offering

Product offering

Core offering

Levi operates Finland's largest ski resort and functions as a year-round tourism booking platform for the Levi resort area in Kittilä, Finnish Lapland. Through levi.fi, visitors can search and book ~700 accommodation properties (hotels, cottages, apartments, igloos) and reserve guided activities such as husky sledding, snowmobile tours, hiking, kayaking, and aurora-viewing. Resort operations include 44 slopes and 26 ski lifts, cross-country trails, freestyle facilities, and event-based tourism campaigns.

Product overview

Levi is a Finnish ski resort destination operated by Visit Levi (Levin Matkailu Oy) and Levi Ski Resort (Oy Levi Ski Resort Ltd), offering a unified tourism platform for booking accommodations (cottages, igloos, hotels, apartments), ski resort access, and guided activities across all seasons. The core products include ski passes and slope access, accommodation booking across approximately 700 properties, and activity reservations. Additional offerings encompass spa services, event venues, and summer outdoor experiences.

Differentiator

Problem solved

Functional benefit

Products and services

  • Skiing and Snow Sports Alpine skiing, snowboarding, and freestyle facilities at Finland's largest ski resort, including 44 slopes, 26 ski lifts, 230 km of cross-country trails, South Park, Alpine Training Park, and off-piste areas for visitors to Levi.
  • Accommodation Booking Platform Online search and booking of cottages, vacation apartments, igloos, and hotels across approximately 700 properties in the Levi resort area, accessible to visitors via levi.fi.
  • Activity and Experience Booking Reservation service for guided year-round activities including husky sledding, snowmobile tours, hiking, kayaking, golf, fishing, and cultural attractions for tourists visiting the Levi area.

Quantifiable outcome

  • 750,000 annual visitors demonstrating strong tourism appeal
  • +1 more outcomes

Companies that use Levi

Customer profile

Segments1 record

Ideal customer profiles1 record

Levi technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Levi partnerships and signals

Strategic signal

Partnerships

Four partnerships are on record, tiered core and minor.

  • Visit LevicoreStrategic or Co-development Partner · 9 June 2026Visit Levi is the official marketing organization for the Levi resort area, organizing tourism promotion and events including the Midnight Sun Hunt treasure hunt campaign.
  • Agnico Eagle FinlandminorStrategic or Co-development Partner · 9 June 2026Mining company partnering with Visit Levi for the Midnight Sun Hunt treasure hunt campaign as part of local corporate sponsorship.
  • Levi Ski ResortcoreStrategic or Co-development Partner · 9 June 2026Finland's largest ski resort operator, jointly organizing tourism events and campaigns with Visit Levi. The €60 million investment plan announced represents the largest single investment in the resort's history.
  • Levi Ski ResortcoreStrategic or Co-development Partner · 27 May 2026Levi Ski Resort announced €60 million investment for new 14,000-square-metre hotel complex with 250 rooms near Zero Point, construction planned for spring 2027 to spring 2029.

Scale indicators10 records

Recent moves4 records

Expansion highlights2 records

Levi competitors and assessment

Company assessment

Emerging players

  • ICEHOTEL (Sweden): Iconic Swedish Lapland destination in Jukkasjärvi combining year-round ice accommodations with northern lights and Arctic activities. Comparable to Levi's aurora/midnight sun-driven Lapland value proposition but with a more experiential, niche lodging focus.

Broad incumbents

  • SkiStar: Scandinavia's largest ski resort operator, publicly listed, with integrated mountain destinations across Sweden, Norway, and Austria. Operates similar slopes, lifts, lodging, and year-round activity offerings but at significantly larger scale and with owned/leased accommodation inventory.

Regional players

  • Lapland Hotels: Finland's largest privately owned hotel chain focused on Lapland destinations, operating multiple properties across northern Finland. Comparable to Levi's lodging aggregation strategy and Lapland-focused guest base, with stronger owned-hotel integration.

Direct peers

  • Ylläs (Ylläs Ski Resort): One of Finland's largest ski resorts located in Kolari, Finnish Lapland, offering extensive slope infrastructure and year-round Arctic experiences. Closest direct competitor to Levi within Finland's largest-resort tier, sharing the same aurora- and Lapland-seeking international guest base.
  • Ruka Ski Resort: Another major Finnish ski resort in Kuusamo, also marketed as a year-round destination with extensive slopes, lifts, and Lapland/Northern Finland experiences. Directly comparable to Levi in scale, geography (Finnish Lapland border), and winter + summer tourism model.
  • Saariselkä (Inari-Saariselkä Tourism): Finnish Lapland resort area in Inari municipality offering skiing, aurora tourism, and Sami cultural experiences. Smaller ski infrastructure than Levi but competes for the same aurora-driven international visitor segment.

Others

  • Levi Ski Resort lift operations parent / competitor set: SkiResort.info is a leading European ski resort comparison and data platform covering thousands of resorts including Levi, Ruka, Ylläs, and Alpine competitors. Useful industry index peer for benchmarking Levi against other European ski destinations on metrics like slope km, lifts, and visitor volume.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Levi social profiles

Digital presence

Levi financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Levi leadership team

Management profile

Number of profiles

Levi funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Levi M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Levi

What does Levi do?

Levi operates Finland's largest ski resort and functions as a year-round tourism booking platform for the Levi resort area in Kittilä, Finnish Lapland. Through levi.fi, visitors can search and book ~700 accommodation properties (hotels, cottages, apartments, igloos) and reserve guided activities such as husky sledding, snowmobile tours, hiking, kayaking, and aurora-viewing. Resort operations include 44 slopes and 26 ski lifts, cross-country trails, freestyle facilities, and event-based tourism campaigns.

Is Levi a public or private company?

Levi is a private company. It is classified as unknown and is currently operating.

When was Levi founded?

Levi was founded in 1976. It employs 11 to 50 people.

Where is Levi based?

Levi is headquartered in Sirkka, Finland, in the Europe region.

Who are Levi's main competitors?

ICEHOTEL (Sweden) is listed as an emerging player. SkiStar is listed as a broad incumbent. Lapland Hotels is listed as a regional player. Direct peers are Ylläs (Ylläs Ski Resort), Ruka Ski Resort and Saariselkä (Inari-Saariselkä Tourism). Levi Ski Resort lift operations parent / competitor set is listed as an others.

Does Levi have an API?

No public API is recorded for Levi.

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Live signals
The IndependentLapland resort hides €20,000 gold bar to attract tourists with treasure huntA resort in Levi, Lapland, has hidden a €20,000 gold bar for a "Midnight Sun Hunt" treasure hunt running from June 18 through late August, with participants following a series of clues across the region to locate the prize. The campaign, organized by Visit Levi in partnership with Agnico Eagle Finland and Levi Ski Resort, aims to boost summer tourism in an area more commonly known for winter skiing and northern lights viewing. The first clue will be released on June 18, with the final clue on August 22, and the gold bar can theoretically be found after any clue as new hints are released throughout the summer.ThebarentsobserverLevi ski resort unveils €60 million investment planLevi Ski Resort, Finland's largest winter resort, announced a €60 million investment plan for a new 14,000-square-metre hotel complex with approximately 250 rooms, restaurants, and service facilities near Zero Point. The development represents the largest single investment in the resort's history and is scheduled to begin construction in spring 2027 with completion expected by spring 2029. The announcement follows record performance during the 2025/26 winter season, when the resort recorded 599,000 ski ticket-days with international visitors accounting for 26 percent of lift pass sales.ForbesBest Memorial Day Clothing Sales 2026: Save Up To 70% NowForbes has compiled a roundup of Memorial Day clothing sales featuring discounts of up to 70% off at major U.S. retailers including J.Crew, Nordstrom, Lululemon, Skims, and Levi's. The article lists promotional offers from approximately 20 retailers, including percentage-based sitewide discounts, additional markdowns on clearance items, and free shipping perks. The sales are positioned as time-limited holiday promotions intended to help consumers refresh their summer wardrobes before the holiday weekend ends.CIOExxonMobil 'from the basics' vs Levi's '1000 agents'... AI strategies seen through SAP customer casesLevi's has implemented over 1,000 AI agents and trained more than 4,000 employees in generative AI over the past 2.5 years, integrating more than ten legacy ERP systems into a single global platform using SAP S/4HANA Fashion and Microsoft Azure. The standardization effort enabled the 170-year-old company to reduce wholesale order processing time from 2–5 days to just 20–30 minutes, representing a significant operational efficiency improvement. Levi's Chief Digital and Technology Officer emphasized that standardization and agility are complementary, noting that companies with long histories must evolve to remain competitive.BuzzFeedLes Green Levi's Levi’s Is Using The World Cup To Blend Global Soccer With Street StyleLevi's is leveraging the 2026 FIFA World Cup in North America to launch a cultural merchandise campaign focused on identity, pride, and community, rather than solely on match outcomes. The company's strategy includes staggered product drops and activations that are intended to build ongoing brand loyalty beyond the tournament. Levi's plans to connect these cultural moments into its broader ecosystem, emphasizing local creators and community figures to engage diverse fans.Fox NewsAdd to cart: 9 things the FOX News Deals team bought this weekThe article details the FOX News Deals team's recent product purchases, including items like Levi's jeans, a leaf blower, and skincare products. The team shares their experiences and reasons for selecting these products.The Times of IndiaCalifornia's lawsuit to Amazon: You forced Levi's, Hanes to increase prices on Walmart and Target - The Times of IndiaCalifornia has unsealed new details in its 2022 antitrust lawsuit against Amazon, alleging the company pressured major brands including Levi Strauss & Co. and Hanesbrands to raise prices on rival retail platforms such as Walmart and Target. Internal communications cited in the filing show Amazon flagged lower prices on competing sites to brands, which then contacted those retailers to increase costs, with the state accusing Amazon of orchestrating price-fixing across the market. Amazon has denied the allegations, calling the filing an attempt to distract from the case's weaknesses, as the matter is scheduled to go to trial next year.MintHow Amazon allegedly used Levi's and Hanes to force rivals to raise prices - What California court filing reveals | Company Business NewsCalifornia has released less-redacted court documents in its 2022 antitrust lawsuit against Amazon, alleging the company orchestrated price fixing by pressuring major brands including Levi's, Hanes, and Maxi-Matic to push rival retailers such as Walmart and Target into raising prices on certain products. Internal emails cited in the filing show Amazon flagged lower competitor prices to brands, which then contacted retailers and secured price increases, with Amazon subsequently matching those higher prices; in one instance, Amazon lost roughly $7,000 in a single day matching a competitor's price on a Maxi-Matic ice cream maker. The lawsuit is scheduled for trial in 2027 in San Francisco Superior Court, and California Attorney General Rob Bonta described the documented pattern as the most explicit and egregious price fixing he has seen in writing.CNBCAmazon ‘strong-armed’ Levi’s, Hanes to hike prices on rival sites, California DA saysCalifornia Attorney General Rob Bonta has filed new evidence in a 2022 antitrust lawsuit against Amazon, alleging the company coerced vendors including Levi Strauss, Hanes, and Allergan to raise prices on rival retail websites such as Walmart and Target, with Amazon allegedly threatening to suppress product listings or remove them from its platform. The newly unsealed documents claim Amazon controls up to 50% of the U.S. e-commerce market and has used its market power to keep prices artificially high across the internet through agreements with its millions of vendors. The AG's office is seeking an injunction to prevent Amazon from engaging in the alleged price-fixing practices and requesting an independent monitor to oversee compliance, with the case scheduled for trial in 2027.