Europe News

Prada says owners being investigated by Italian authorities over tax


Italian luxury fashion house Prada said on Monday its chairwoman Miuccia Prada and her husband, chief executive officer and fellow shareholder Patrizio Bertelli, are being investigated by Italian authorities over past taxes.

A Prada store in Beijing.
Getty Images

The Hong Kong-listed company said in a statement it had been informed by the Italian Judicial Authority of the probe. It said neither it nor any of its subsidiaries was or is involved in this matter.

Reuters reported in January that Miuccia Prada and Bertelli were under investigation as part of a tax avoidance probe by Milan prosecutors. At the time, the company said it was not aware of investigations taking place.

On Monday, the company said that Miuccia Prada and her husband had made a voluntary disclosure to Italy's tax authority in December last year, prompting an examination into certain past tax filings by the couple with respect to foreign owned companies.

Representatives for Miuccia Prada and Bertelli were not immediately available outside European business hours.

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