The day after the luxury group announced that it will pay a record fine of 1.25 billion euros to Italian tax authorities, shares in the company rose 1%, reflecting a certain confidence as this chapter draws to a close.
French luxury group Kering is close to agreeing to pay between €1.3 billion (£1.1 billion) and €1.4 billion to settle a dispute with Italian authorities over unpaid taxes by its fashion brand Gucci, sources said.
Luxury goods group Kering joined competitors in defying concerns of waning demand in China, as momentum at its powerhouse Gucci slowed slightly in the fourth quarter but still outperformed most other fashion brands.
Following the departure of Frida Giannini announced in December by luxury group Kering, Alessandro Michele, 42 years-old, has been named creative director at Gucci, according to information published by Bloomberg.
Since the announcement of the departure of Gucci's Artistic Director, Frida Giannini, rumours have been multiplying over her potential successors. After Riccardo Tisci, Hedi Slimane seems to be the leading candidate.