Prada reaches deal with fiscal authorities and transfers headquarters to Milan
After a series of reports on the fiscal investigation by Italian authorities, luxury group Prada has agreed to pay a settlement of 470 million euro and to relocated its fiscal headquarters from Luxembourg / Netherlands to Milan. Prada Holding BV based in Amsterdam would own 75 percent of Prada Group which is listed on the Hong Kong Stock Exchange. Italian fiscal authorities re-confirmed both Miuccia Prada and CEO Patrizio Bertelli, both major stake holders in the group self-reported themselves. By the end of the year, Prada Group will also inaugurate its largest manufacturing facility in Italy.