Kering Says It Is Cooperating With Authorities on Gucci Tax Probe
Gucci parent Kering said it was cooperating with Italian authorities following a report that Milan prosecutors have wrapped up a probe into alleged tax evasion by the high-end label, which could lead to a trial.
“Kering is confident about the correctness and transparency of its operating mode, and is cooperating actively with the competent authorities,” the French luxury group said in an e-mailed statement.
Citing an unnamed judicial source, Reuters reported that Milan prosecutors had finished their investigation into alleged tax evasion of roughly 1 billion euros. The case will be referred to court in the next 20 days unless the parties agree on a settlement or new evidence emerges, the news agency said.
The report quoted the unnamed source as saying that Gucci chief executive officer Marco Bizzarri and former CEO Patrizio Di Marco were under investigation in the case.
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