The Spanish company selling the ‘Power Balance” bracelets, which became a plague last summer, was fined 15.000 euros by the “Junta de Andalucia” for “misleading advertisement”.
According to “El Mundo” online, a consumers’ association denounced the Spanish company to court for misleading buyers with promises that the product fails to accomplish. The association considers that the “almost miraculous” properties announced for the bracelet are fraudulent.
Since 2009 it has already sold 350,000 wristbands in Spain alone – which cost 35 euros – but several scientific studies prove that it does not work. The latest research, conducted by the University of Madrid, proved that “it has no outcome on body balance”.
The Spanish company Power Balance, earned about 10 million euros in sales after athletes like Cristiano Ronaldo and Shaquille O’Neal created a trend, followed by thousands of people.
This still looks like a good business model for powerbalance has the 15k euro fine is easily forgotten as millions keep flowing in.