MILAN — Bulgari on Thursday said it is “confident” it will disprove allegations of fraudulent earnings in Italy, and also accused Italian authorities of waging a campaign in the media to destabilize the Roman jeweler by seizing assets.
The comments came after Italy’s tax police, the Guardia di Finanza, said it had confiscated real estate, including two sites on Rome’s Via dei Condotti; life insurance policies, and corporate investments traceable to Bulgari executives for a total value of 46 million euros, or $60 million at current exchange. Paolo and Nicola Bulgari, chairman and vice chairman, respectively, of Bulgari SpA; former chief executive officer Francesco Trapani, and Maurizio Valentini, current legal representative of the Italian parent company, are among the executives named by the tax police.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"