The French Government Is Investigating Gucci Owner Kering For Tax Evasion

Gucci’s parent company is in hot water. Kering, one of the world’s leading luxury conglomerates and owner of labels like Balenciaga and Saint Laurent, confirmed on Thursday it would cooperate with a French government investigation into its tax payments. France’s Parquet National Financier, or national financial prosecutor, initiated the investigation in February of 2019, apparently following an earlier investigation by Italy’s tax regulators. In a statement, the company refuted any allegations of wrongdoing as presented by the media. Read more at Robb Report.