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.
Exclusive: @longchamp is planning to stage its first official runway show at New York Fashion Week this fall. The French leather goods firm has expanded into ready-to-wear as part of its repositioning as a lifestyle brand. The show, scheduled for September 8, will also cap the brand’s 70th anniversary celebration. Get all the details on WWD.com. #wwdnews #wwdfashion (📷: @dominiquemaitre)
The Duke and Duchess of Sussex undertook their first overseas engagement as a married couple in Dublin. The trip included multiple events and outfits changes, including this black dress by @emiliawickstead that Meghan Markle wore for a party at the British Ambassador’s home. #wwdfashion #royals
At 20 years old – and with an estimated net worth of $900 million - @kyliejenner is the youngest person to ever make @forbes’ annual list of America’s Richest #SelfMadeWomen. “It’s incredible to be recognized for something I’m so passionate about, and I’m really grateful for that. I’ve always loved makeup and worked really hard to bring the first lip kit to the market,” said Jenner on founding @kyliecosmetics. See who else is on the list on WWD.com. #wwdnews #wwdbeauty (📷: @rainerhosch)
“The collection is inspired by Tulum and the Mayan Riviera – its laid-back luxury, life of cabanas, untouched coastline, natural habitats, exotic cocktails and jungle parties with renowned DJs,” said Matteo Maniatty, creative director and cofounder of @descendantofthieves, on the brand’s inspiration for its latest collection. See more designer sketches and inspirations on WWD.com. #wwdfashion #nyfwmens #nyfw
@riccardotisci17 is releasing a limited-edition capsule collection as part of his anticipated runway debut for @burberry in September. Delivered in a series of instant drops, this is the second Burberry capsule collection announced since Friday, when Tisci broke the news on his collaboration with @viviennewestwood. Get all the details on WWD.com. #wwdfashion #wwdnews
“It’s like a Cinderella story. You get a little fake, you get a little real, you put it together and voilà,” said legendary rapper Slick Rick, who helped pioneer the merge of luxury and streetwear. WWD’s @ariahughes spoke to @therulernyc about his jewelry collection, his collaboration with @bally and how the industry has evolved – link in bio. (📷: @kristaschlueter)
@ragandbone and @eminem are teaming up on a special capsule collection of streetwear pieces. Sold at a one-day pop-up in London’s Soho on Friday, the collection features three different T-shirt designs and a hoodie. The capsule is set to kick off the rest of Eminem’s shows in his European Revival Tour, which ends on Sunday. Get all the details on WWD.com. #wwdfashion