Follow Up: The Latest Development Of Luxury Brand Gucci'S Tax Evasion Case

This year, Italy's luxury brand will exceed 5 billion euros for the first time this year.

The latest progress in tax evasion has been reported. The amount involved is as high as 1 billion 300 million euros.

According to the world clothing and shoe net, because the Italy Milan procuratorate suspected that Gucci had evaded taxes through a more favorable tax structure in Switzerland, the financial Guard officers had conducted investigations and evidence collection on Gucci headquarters in Milan and Florence recently.

Italy newspaper La Stampa reported that Gucci will be charged by Milan prosecutor Stefano Civardi, which has an unpaid tax of 1 billion 300 million euros since 2010.

The detailed analysis and search of the company's computer data and documents lasted 3 days.

These funds or related

In Lugano, Switzerland, the registered business activity proceeds may be registered by nominally registered in Lugano but executives actually work in Milan, while Lugano's enterprises can enjoy a more favorable tax structure.

Reported that Gucci CEO Marco Bizzarri and former CEO Patrizio Di Marco will be investigated.

Carmine Rotondaro, a former executive of Gucci's parent company, has also reported on Gucci and has collaborated with prosecutors.

Carmine Rotondaro used to be a financial consultant responsible for the retail real estate business of Kai Yun group.

In 2016, Carmine Rotondaro was accused of tax evasion by the Italy tax police.

Prosecutor Stefano Civardi also took part in some investigations.

Milan's financial guard police seized 13 assets worth 7 million euros under the name of Carmine Rotondaro.

Kai Yun group accused Carmine Rotondaro of corruption Group real estate investment, and privately collect kickbacks.

At the same time, Carmine Rotondaro is also involved in the investigation of several real estate businesses in Florence by prosecutors. These real estate businesses are related to outlets in Liguria and Tuscany.

In a statement released this week, Gucci said that the brand is fully cooperating with relevant departments and is confident in the pparency of its tax process.

Gucci, which constantly made consumers feel fresh, has recorded strong growth and has won the luxury industry for 7 consecutive quarters.

According to fashion headline data, Gucci's growth rate in the third quarter has reached a record high, with sales soaring by 49.4% to 1 billion 550 million euros.

Again, it exceeds 1 billion 337 million euros for Hermes.

Some analysts believe that Italy has become one of the most important factors in recent years.

The group is suspected of evasion of taxes frequently.

As the economic crisis has led to a significant reduction in the income of Italy countries, relevant departments have intensified their investigation of tax evasion.

But because Italy's tax departments are increasingly interfering in Italy luxury group, luxury brands, especially listed companies, are more sensitive to their image. Endless tax investigation will bring uncertainty to investors and cause stock price turbulence.

Most of the brands that are worried about the lengthy and damaging image of the investigation process accept the tax authorities' fines.

Insiders speculate that with the resurgence trend of luxury goods industry this year, tax departments in various countries will once again focus on luxury brands.

Gucci, which has repeatedly reported good news, is also an important goal, because the amount of money involved in luxury brands evasion is very huge. The amount of the 1 billion 300 million euros has shocked the industry.

As of press release, Kai Yun group declined to comment on the news report.

However, since the news came out on Tuesday, the share price of Kai Yun group has not been significantly affected. Yesterday's share price rose 1.28% to 378.35 euros per share, and its market value is 47 billion 800 million euros at present.

More interesting reports, please pay attention to the world clothing shoes and hats net.