MILAN —Moncler said on Friday it had signed an agreement with the Italian Tax Authority, which will allow the fashion company to have access to the Patent Box tax-relief regimen. The benefits are related to the 2015-19 period.The estimated tax benefit for the period 2015 to 2017 is valued at 34 million euros and will impact the 2017 financial results.Other Italian fashion companies have been granted benefits through the Patent Box, including Salvatore Ferragamo, Brunello Cucinelli and Luxottica, or have asked to have access, such as Prada.In addition, following an agreement with the country’s Tax Authority related to transfer pricing issues, Moncler this year will pay a net sum of 14.5 million euros to settle its tax position.As a result of these operations, Moncler expects a 7 percent decrease in the tax rate for fiscal-year 2017 compared to 2016.In the nine months ended Sept. 30, Moncler’s revenues climbed 15 percent to 736.8 million euros, compared with 639.3 million euros in the same period last year, lifted by all distribution channels and geographic markets. In addition, sales in international markets climbed 18 percent to 622.9 million euros, but revenues also rose in Italy, reaching 113.8 million euros, up 4 percent and representing 15.5 percent of total sales.
Supermodel @helenachristensen teamed up with longtime friend and designer @camillastaerk on a joint @paredeyewear collaboration. The lineup features three styles and 11 offerings, all of which embody a vintage feel. Get all the details on how they celebrated the collab on WWD.com. #wwdaccessories #wwdeye (📷: @slovekinpics)
“It’s a hard industry to keep motivated, as well, so finding different subjects and people is what makes it worth it – when you’re like, oh, I’ve met great people, I feel like I’ve done something good, and I feel proud of having done this,” said French actress Stacy Martin on being grateful for the variety of roles she’s take on. Read @ktauer’s full interview with Martin on her her latest film “Godard Mon Amour.” #wwdeye (📷: @danieldorsa)
After showing in front of the Eiffel Tower for his last two women’s ready-to-wear collection, it looks like @anthonyvaccarello may be heading to the Big Apple. Sources say the designer will stage his next @ysl show in NYC on June 6. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @aitorrosasphoto)
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion