Prada Prada Group Issued A Statement Saying That Two CEO Were Subject To Tax Review.

Prada SpA Prada recently issued a statement saying that the two joint CEO and executive director of the group, Miuccia Prada Bianchi and Patrizio Bertelli, are being examined by the Ministry of justice of Italy on the accuracy of some past tax returns made by foreign companies in their personal names.

The group also refers to the procedure being followed up voluntarily by Miuccia Prada Bianchi and Patrizio Bertelli.

Voluntary disclosure prompted them to reach an agreement with the tax authorities in Italy in December 2013: Prada SpA, Prada will pay all the taxes that should be paid by the holding company in Italy in the past ten fiscal years, and has completed the voluntary disclosure procedures of its Prada Holding B.V. and related holding companies and beneficial owners of Luxemburg holding company.

Yes, sure.

The tax of Prada and related holding companies and Affiliated Companies will be mainly handed over to the tax authorities in Italy.

Prada SpA SpA also promised to move the holding company Prada Holding B.V. to Italy at the appropriate time.

The group agreed that the agreement fully complies with the agency's claim.

However, it is this agreement that attracted the attention of Italy prosecutors. The Italy media quoted news that they had launched an investigation of Prada SpA Prada in January this year after they received notice from the Italy tax authorities.

The media said the respondents included Miuccia Prada, Patrizio Bertelli and two management groups, including group accounting Marco Salomoni. They were accused of evasion of 470 million euros, but the representatives of Miuccia Prada and Patrizio Bertelli, the lawyers for Stefano Prada, denied the investigation. The lawyer also pointed out: "under any circumstances, the new provisions of the voluntary disclosure (agreement) should apply to the case," therefore, it is not illegal.

Group Chairman

In a statement on Sunday, it was claimed that neither the group nor any of its Affiliated Companies was involved in the past and present.

At the time of the deadline, Prada SpA Prada dropped 1.55% to HK $47.55 on Monday afternoon.

The stock has fallen by 32% since 2014.

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So who can copy the successful example of the next Michael Kors has become a hot topic in the global fashion industry recently.

In the field of "light extravagance", a number of powerful brands in the United States, such as Tory Burch, Marc Jacobs, Diane von Furstenberg, Kate Spade and so on, are all gearing up for their success. Whether they can successfully combine the brand personality and profitability and step into the fast lane of growth, so that the value of the company can be greatly improved remains to be investigated.

WWD's latest report has made a clear comb on this topic:

The achievement of Michael Kors myth is not accidental: the designer's personality charisma, the wide influence of design style, and all kinds of think-tank, including Lawrence Stroll, Cao Qifeng, and CEO John Idol.

More than 10 years ago, Michael Kors was on the verge of bankruptcy. The White Knight Lawrence Stroll and Cao Qifeng appeared in time, planning the route for the long-term development of the brand, and bringing together the following winning elements:

Experienced and active talents: Lawrence Stroll and Cao Qifeng played an important role in the success of the Tommy Hilfiger brand in the 90s of last century. Idol is a smart executive. She worked in Ralph Lauren, Donna Karan and so on.

Increase the mainstream serious exposure: Kors has established a reputation in the fashion industry for many years, and is rooted in the American fashion tradition. But the real opportunity to become famous and accepted by the public is the reality show "Project Runway".

Do high-end, unique fashion brands, but also to do in line with popular taste style.

Only by "democracy" can the brand be sold.

By increasing investment to support growth: the success of accurate timing IPO provides sufficient financial support for the company's extensive growth.