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Lightbox Jewelery opens new pop-up store in New-York, Kering charged with tax evasion and the other news of the day

Lightbox Jewelery opens new pop-up store in New-York, Kering charged with tax evasion and the other news of the day

Lightbox Jewelery opens a new pop-up store in New-York, Kering charged with tax evasion, Valentino pays tribute to Japan with “Valentino TKY” and other news of the day

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Lightbox Jewelery opens a new pop-up store in New-York

picture: lightbox jewellery

Kering charged with tax evasion

picture: Kering

Kering Group, led by François-Henri Pinault, is accused of tax evasion by the italian authorities. The group may be liable to pay more than a billon euros to the italian justice. According to a source mentionned by Reuters, the Milan prosecutors closed the case and it should be handled by the court.

The investigation proved that the revenus produced by some brands such as Gucci were declared in countries with better tax policies. Indeed, the incomes registered via the platform Luxury Goods International between 2010 and 2016 has been declared in Switzerland rather than Italy.

Citi revealed that a deal could be signed in exchange of 1 billion euros. On the other side, Kering group seems confident and assures its full cooperation with the authorities.

 

Roberto Cavalli signs a new home design project

picture: Roberto Cavalli

Roberto Cavalli group recently signed a contract with Bin Faqeeh Real Estate Investment Company S.P.C. to design 247 apartments in Barhain.

The House would like to improve its growth in this sector. According to the CEO Gian Giacomo Ferraris, this sector rose from 6% to 8% in 2016 when the firm Clessidra bought 86.9% stake in Roberto Cavalli.

Cavalli, with Armani, Fendi and Versace, is one of the leaders of home and furniture design.

 

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Valentino pays tribute to Japan

picture: Valentino

The italian brand Valentino delivered quite a show in Japan, and more particularly in Tokyo. During 2 days, the fashion house launched a new exclusive capsule collection, opened a pop-up store, collaborated with local artists and labels. The event called « Valentino TKY » is a great success for the brand.

During the last ceremony, the 2019 pre-fall collection was revealed by the brand. For the first time, the italian fashion house showcased male and female ready-to-wear models. Around 70 women and 20 masculine looks has been shown to the public. A mostly red and black collection, inspired by wabi-sabi, a japan concept highlighting an imperfect feminin beauty.

 

HBC criticized by an investor

picture: HBC

Land and Buildings Investment Management LLC criticizes Hudson’s Bay Company (HBC) accusing for their incapacity to generate revenues for their investors.

HBC received a letter from one this investor in which there were lot of critics. The letter said to resume their shares by giving up on Saks Fifth Avenue and Lord & Taylor, and by cooperating with one of their european co-company Signa.

Also, they advised them to get a new real estate investment trust status in Canada and to rent more offices in their store The Bay.

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