De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
tax
Latest News & Analysis
Financial Markets
Frasers Group Settles Belgian Tax Case
The sportswear retailer has agreed on 73 percent of a query over value added tax of €674 million.
Frasers Group Settles Belgian Tax Case
The sportswear retailer has agreed on 73 percent of a query over value added tax of €674 million.
Luxury
France Hits Back at Trump's Tariffs
The country's Finance Minister Bruno Le Maire says France is ready to go to the World Trade Organisation to challenge the US President's luxury goods tariffs.
France Hits Back at Trump's Tariffs
The country's Finance Minister Bruno Le Maire says France is ready to go to the World Trade Organisation to challenge the US President's luxury goods tariffs.
Financial Markets
Nike and Under Armour Urge Trump to Remove Footwear From Tariff List
The additional tariff of 25 percent on Chinese goods may add $7 billion in additional costs for US customers every year, the The Footwear Distributors & Retailers of America says.
Nike and Under Armour Urge Trump to Remove Footwear From Tariff List
The additional tariff of 25 percent on Chinese goods may add $7 billion in additional costs for US customers every year, the The Footwear Distributors & Retailers of America says.
News & Analysis
Retailers, Already Planning for the 2019 Holidays, Expected to Get Whacked by Tariffs
"The hike will also cost the average American family of four $767, according to a report by the Trade Partnership."
Retailers, Already Planning for the 2019 Holidays, Expected to Get Whacked by Tariffs
"The hike will also cost the average American family of four $767, according to a report by the Trade Partnership."
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Financial Markets
Kering to Pay €1.25 Billion Tax Settlement
The settlement with the Italian revenue agency relating to Gucci and Swiss subsidiary Luxury Goods International SA requires the French group to pay €897 million in additional taxes, along with further payment for penalties and interest, for a total of €1.25 billion.
Kering to Pay €1.25 Billion Tax Settlement
The settlement with the Italian revenue agency relating to Gucci and Swiss subsidiary Luxury Goods International SA requires the French group to pay €897 million in additional taxes, along with further payment for penalties and interest, for a total of €1.25 billion.
Luxury
Report: Kering Close to Settling Italian Tax Case for €1.3-1.4 Billion
This would be the biggest tax settlement ever agreed by a company with the Italian tax authorities.
Report: Kering Close to Settling Italian Tax Case for €1.3-1.4 Billion
This would be the biggest tax settlement ever agreed by a company with the Italian tax authorities.
Luxury
Why Fashion’s Giant Notre-Dame Pledges Are Good for Business
Both LVMH and Kering stand to benefit from their donations to save Notre-Dame, though a political backdrop of populism has raised the risk of a backlash.
Why Fashion’s Giant Notre-Dame Pledges Are Good for Business
Both LVMH and Kering stand to benefit from their donations to save Notre-Dame, though a political backdrop of populism has raised the risk of a backlash.
Luxury
LVMH and Arnault Will Not Get Tax Breaks From Notre-Dame Donations
The outpouring of donations following the fire on Monday has prompted questions from charities, politicians and commentators about benefits from tax deductions.
LVMH and Arnault Will Not Get Tax Breaks From Notre-Dame Donations
The outpouring of donations following the fire on Monday has prompted questions from charities, politicians and commentators about benefits from tax deductions.
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Retail
Apple, Louis Vuitton, Gucci Drop China Prices for VAT Cuts
Luxury brands lowered product prices in China as a cut in the country's VAT rate came into effect on April 1.
Apple, Louis Vuitton, Gucci Drop China Prices for VAT Cuts
Luxury brands lowered product prices in China as a cut in the country's VAT rate came into effect on April 1.
Financial Markets
Kering’s €1.4 Billion Tax Bill, Explained
The French luxury giant is facing a possible €1.4 billion tax bill in Italy after accounting practices linked to a Swiss subsidiary attracted scrutiny.
Kering’s €1.4 Billion Tax Bill, Explained
The French luxury giant is facing a possible €1.4 billion tax bill in Italy after accounting practices linked to a Swiss subsidiary attracted scrutiny.
Financial Markets
Kering Faces €1.4 Billion Italian Tax Claim
Some business carried out by Kering employees in locations including Milan and Paris was billed through a Swiss unit, incurring lower tax rates, according to reports.
Kering Faces €1.4 Billion Italian Tax Claim
Some business carried out by Kering employees in locations including Milan and Paris was billed through a Swiss unit, incurring lower tax rates, according to reports.
Financial Markets
Nike's Dutch Tax Deals Probed by EU in Latest Fiscal Crackdown
The probe will weigh tax rulings that calculated Nike's royalty payments for intellectual property use in the EMEA region.
Nike's Dutch Tax Deals Probed by EU in Latest Fiscal Crackdown
The probe will weigh tax rulings that calculated Nike's royalty payments for intellectual property use in the EMEA region.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.