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Kering Says It Will Fully Cooperate With The Inquiry About Tax Litigation - Quick Facts

French luxury goods company Kering SA (PPRUY.PK,PPRUF.PK) said Thursday it intends to fully cooperate with the inquiry about tax litigation, in complete transparency and serenity. It will also continue to communicate diligently and openly about it.

The tax litigation inquiry appears to be linked to the potential consequences for Kering French companies resulting from legal proceedings initiated in November 2017 involving LGI, the Group's Swiss subsidiary. The proceedings resulted in a settlement between Gucci and the Italian tax authorities in May 2019.

Kering also refutes in the strongest possible terms the allegations contained in the press article implicating Kering and forwarded by other media.

France's Parquet National Financier (National Financial Public Prosecutor's Office) has confirmed having opened a preliminary inquiry concerning Kering in February 2019. Kering had not previously been informed of this inquiry.

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