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Asharq Al-Awsat
Asharq Al-Awsat
Lifestyle
Asharq Al-Awsat

Kering to Pay 187 Mln Euros to Settle Bottega Veneta Tax Dispute

The logo of Kering is seen during the company's 2015 annual results presentation in Paris, France, February 19, 2016. (Reuters)

French luxury goods group Kering agreed to pay almost 187 million euros ($207 million) to settle a dispute with Italian tax authorities centered on its fashion brand Bottega Veneta, three sources with direct knowledge of the matter said on Friday.

Kering confirmed the outlines of the settlement, without giving the cost, saying it would have no impact on the group's results in 2022 or on its recurring tax rate in future years.

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