Kering pays €187 million to Italian tax authorities

The Kering Group (55% of business from Gucci) is to pay €187 million to Italian tax authorities to settle litigation concerning Bottega Veneta.

From 2012 to 2019, the brand’s revenues were accounted for through Luxury Goods International, a Kering subsidiary based in Switzerland. Italian prosecutors and tax authorities argued that the tax should have been paid in Italy, not Switzerland. In 2019, Kering was subject to a record €1.25 billion tax reassessment by the Italian au