Kering Settles Gucci Tax Evasion Case for Over $1 Billion USD

As The Fashion Law reports, Kering has settled the tax evasion case Italian authorities levied against Gucci in late 2017. The luxury company will owe Italy over $1 billion USD in initial payments, with another settlement against senior Gucci executives still pending. Italian tax officials raided Gucci offices in 2017 after accusing the label of evading taxes on over €1 billion EUR, a charge that Gucci and its parent company both vehemently denied. However, Italy asserts that Gucci revenues we...