The Italian luxury brand of fashion and leather goods, Gucci, has been catching plenty of attention through their garments recently, however, it looks like the fashion house is set to receive some for the wrong reasons.
In fact, it looks like after the iconic label was raided for a surprise investigation last year the authorities weren’t happy as the Milan-based prosecutors have returned to ask the Kering-owned label to face trial for tax evasion. Specifically, the feds believe that the amount evaded was in the ballpark of around €1 billion between the years of 2010 and 2016.
As for what caused this, prosecutors believe that Gucci unfairly processes their revenues through Luxury Goods International, a Swiss company that manages distribution and logistics for most of Kering’s luxury brands. Now, this may not seem like a big deal but due to the company’s Swiss location, the brand is being taxed in Switzerland rather than Italy, something that authorities are trying to put an end to.
As for what will happen from here, I guess we are going to have to wait and see if the trail takes place and if it does, what the outcome is. Stay tuned as we will keep you up to date with the story as it unfolds.
