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The French luxury group Kering is in the judicial sights for “laundering tax fraud”. According to a judicial source close to Mediapart, the group is accused of having paid over 2.5 billion in taxes between 2010 and 2017, including 180 million in France.
The luxury group Kering, owner of the brands Gucci, Yves Saint Laurent, Balenciaga, is targeted by a judicial investigation since 2019, according to information from Mediapart, confirmed Wednesday with the national financial prosecutor’s office.
The group, headed by François-Henri Pinault, allegedly used a tax package to declare in Switzerland its activities undertaken in other countries, particularly in Italy. In all, the group would have avoided 2.5 billion euros in taxes between 2010 and 2017, including 180 million euros in France.
« Kering contests with the utmost firmness the allegations of laundering of tax fraud totally unfounded as reported in the article of Mediapart,» the group said Wednesday, before the PNF (National Financial Prosecutor’s Office) confirms the rumors of an ongoing investigation, saying it has “no knowledge” of these investigations.
« If necessary, the group will give its full cooperation to the authorities concerned in the context of the possible investigation, in full transparency and with serenity,» said the French luxury group.
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