On 9 May 2019, French luxury goods group Kering announced that it has reached a tax settlement with the Italian tax authority regarding permanent establishment and transfer pricing issues. The case involved Kering group's brand Gucci and a scheme that involved the booking of Italian Gucci sales revenue in a Swiss subsidiary, which the Italian tax authority claimed should have been taxed in Italy. The total amount due is EUR 1.25 billion, which is reportedly the largest ever settlement agreed …