Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Gucci offices raided in tax probe

Fashion house Gucci has confirmed its offices in Milan and Florence were raided last week, over tax evasion claims.

The company, owned by French luxury group Kering, issued a statement after Italian paper La Stampa reported that police checks across the offices sought evidence regarding allegations Gucci paid taxes on profits generated by Italian sales in Switzerland, which has a more favourable tax regime.

Prosecutors suspect this has enabled Gucci to save around €1.3bn (£1.1bn) in domestic tax.

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

Gucci recently posted a strong set of financials, after sales surged 49.4% on a comparable basis to €1.55bn (£1.36bn) in the third quarter of this year.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.