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Not so taxing

9 May 2019 By Lisa Jucca

François-Henri Pinault’s maker of pricey sneakers and bags has agreed to pay Italy’s taxman 1.25 bln euros to atone for past sins. The fine is a stain on Gucci’s reputation. But parent Kering’s lean balance sheet means it can absorb the hit and still go after juicy M&A targets.

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