Kering also under investigation in Switzerland

Switzerland
Published:  22 March, 2018

Switzerland’s Attorney General Office (AGO) is reported to have opened criminal proceedings involving the luxury conglomerate’s Gucci division.

The Swiss probe is said to be in connection with the recent Italian investigation regarding an alleged tax evasion by the Gucci brand, and not directly related to Kering’s distribution platform in the country, Luxury Goods International (LGI). The Swiss AGO confirmed to local media that it has received and executed a request for mutual legal assistance from the Milan Public Prosecutor's Office in Italy.

According to Italian media La Stampa, the Italian justice alleges Gucci of having declared in Switzerland activities carried out in Italy over several years, hence, saving an estimated €1.3 billion in Italian tax. Read more here.

As reported by ILM, the French authorities are also investigating an alleged tax evasion carried out by Kering between 2002 and 2017. The judges are said to be particularly interested in investigating the conglomerate’s LGI logistics platform located in Cadempino, Switzerland.

Source: Le Matin