Gucci confirms it’s under investigation for tax evasion


Following examinations of Prada and Dolce & Gabbana.

It’s safe to say 2017 has been the year of Gucci, but it turns out the Italian label may not be ending the year on such a high note.

The company has now confirmed it’s under investigation for tax evasion, after recently having its offices in Milan and Florence raided by authorities.

First reported by Italian newspaper La Stampa, Gucci’s parent company Kering – which also owns Puma, YSL and Balenciaga– was forced to make a statement on the news.

“Gucci is providing its full cooperation to the respective authorities and is confident about the correctness and transparency of its operations,” it said.

According to the paper, prosecutors suspect the brand has saved up to €1.3 billion in domestic taxes by conducting its affairs in Switzerland.

Gucci posted a huge sales growth of 49.4% in the third quarter of this year, bringing Kering’s revenue for that period to €3.9 billion.


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