By  on May 10, 2019

MILAN — Kering is taking a big financial hit — 1.25 billion euros — to settle with the Italian Revenue Agency, but analysts don’t expect the luxury group’s shares to suffer as a result.

The investigations of the Italian tax authorities, which focused on the company’s tax payments related to the sales in Italy of Gucci products between 2011 and 2017, identified a tax evasion of 1.4 billion euros. According to the Italian tax authorities, in distributing Gucci products in Italy through a directly operated Switzerland-based company named Luxury Goods International, Kering had intentionally avoided the payment of taxes in Italy.

To continue reading this article...

load comments
blog comments powered by Disqus