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  • Luxury group Kering, which owns Yves Saint Laurent among other top brands, has been under investigation since February 2019 for tax fraud, the French financial prosecutor's office said Wednesday. It confirmed a report by the Mediapart news agency, which said Kering had set up a system which enabled it to declare in Switzerland activities in third countries, primarily Italy, allowing it to avoid paying 2.5 billion euros ($3.0 billion) in taxes between 2010 and 2017. A Kering statement said the group firmly contested the "unfounded allegations" of tax fraud contained in the Mediapart story. kd-bl/wai/txw
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  • Luxury group Kering probed for tax fraud: judicial source
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