Leaving Luxembourg: Miuccia Prada Moves Upscale House HQ Back To Italy

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Prada's Full Spring 2015 Campaign 2

The above image is from Prada’s Full Spring 2015 Campaign

Miuccia Prada released her Spring 2015 Campaign earlier in the week here.

Now it is being reported that she is moving her headquarters back to Milan, Italy from Luxembourg. Luxembourg headquarters hasn’t been a great place for some Italian labels. Dolce & Gabbana was investigated for, and subsequently cleared of, tax evasion in 2014. Miuccia Prada and her husband, Patrizio Bertelli has also been the subject of tax investigations in recent years.

According to Vogue UK, “Prada and Bertelli settled with Italian tax authorities regarding unpaid taxes related to the location of their brands’ corporate headquarters outside Italy, paying a reported €470 million to the authorities.

The move is likely to be seen as co-operation on the part of the company,” and a source told WWD that Bertelli and Pradahave been very loyal to the Italian state and it must be recognized that they paid a hefty sum and brought their companies back to Italy“.

Photo Credit: Steven Meisel 

Source: Vogue UK | WWD

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Donovan

Donovan is the CEO and Editor-In-Chief of www.dmfashionbook.com. For all general inquiries please email don@dmfashionbook.com Donovan has a BA in Journalism & Media Studies from the prestigious Rutgers University. He's currently studying entertainment and fashion law.