Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Euronext Paris  >  LVMH    MC   FR0000121014

LVMH (MC)

Real-time Quote. Real-time Tradegate - 09/27 07:20:14 pm
152.227 EUR   +0.31%
01:15p Fashion in brief
01:15p Sparkling combination
09/26 LVMH : The Hadid Sisters Are Slaying Milan Fashion Week’s Runw..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

LVMH : Italy Tax Police Seize Assets in Bulgari Tax-Evasion Probe

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/14/2013 | 05:56pm CEST

By Manuela Mesco

MILAN--Italy's tax police said Thursday they seized 46 million euros ($59.6 million) worth of assets owned by Bulgari's acting chief executive and its chief operating officer, and two shareholders in the luxury jewelry brand, as part of an investigation into suspected tax evasion totaling that amount.

In a statement, the tax police said the assets are owned by acting CEO Francesco Trapani, who is also head of the watch and jewelry division of controlling company LVMH Group; Paolo and Nicola Bulgari in their capacity as shareholders, who are chairman and vice chairman of Bulgari; and COO Maurizio Valentini. The tax police suspect them of being responsible for tax avoidance in Italy on a total of EUR3 billion in revenue from 2006 to 2011.

In an emailed statement Thursday Bulgari denied the allegations and said that the company will take all necessary actions to clarify its position before the authorities. The company said the four people named by police won't be speaking to the press for now and that the company's statement is also the official position of the four. Attempts to reach the people directly weren't successful.

According to the tax police, the four allegedly used ad hoc trading companies registered in countries such as Switzerland, Ireland and the Netherlands to pay lower taxes than would be payable under Italy's tax laws. The tax police consider the procedure irregular because the revenue was allegedly generated in Italy, and thus the tax on it should have been paid in Italy, they say.

The tax police said they have a nine-page document in which they say Bulgari executives described the moves as an "escape strategy" adopted after new Italian tax rules were introduced in 2006.

Bulgari responded in its statement that "the foreign companies at issue are real and genuine companies performing an indisputable strategic role for the group."

Bulgari, an Italian jeweler founded in 1884, was sold to LVMH Group in 2011 for EUR4.3 billion.

Write to Manuela Mesco at Manuela.mesco@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LVMH
05:45p PARIS FASHION WEEK : chic is out and cool is in
01:15p Fashion in brief
01:15p Sparkling combination
09/26 LVMH : The Hadid Sisters Are Slaying Milan Fashion Week’s Runway and We Lo..
09/24 LVMH : Louis Vuitton's Czech subsidiary raises sales, profit in 2015
09/23 LVMH : Gucci’s fairytale collection hits Milan catwalk
09/23 LVMH : Spanish Steps reopen after Bulgari-funded restoration
09/23 LVMH : Spanish Steps reopen after Bulgari-funded restoration
09/22 LVMH : Fendi Goes Futuristic for Spring 2017
09/22 LVMH : Kenzo x H&M Teases Campaign Starring Chance the Rapper, Iman and Suboi
More news
Sector news : Apparel & Accessories - NEC
09/21DJInditex's Unique Fast-Fashion Model Delivers More Breakneck Growth
09/19 NIKE : Canadian smart sport bra maker gets $10 million to take on fitness giants
09/15 Weather exposes holes in H&M, Next clothing order chains
09/15DJH & M HENNES & MAURITZ : Hennes & Mauritz August Sales up 7% in Local Currencies
09/15DJWatch Makers Feel Pain -- WSJ
More sector news : Apparel & Accessories - NEC
News from SeekingAlpha
09/19 RICHEMONT : A Dark Hour For Watches
08/09 LVMH MOËT HENNESSY LOUIS VUITTON : King Of Luxury
07/27 Is It Too Late To Buy Louis-Vuitton Moet-Hennessy As It Pops 7%
07/27 LVMH's (LVMHF) CEO Jean-Jacques Guiony on Q2 2016 Results - Earnings Call Tra..
07/26 LVMH-Moet Hennessy Louis Vuitton reports Q2 results
Advertisement
Financials (€)
Sales 2016 36 990 M
EBIT 2016 6 757 M
Net income 2016 4 041 M
Debt 2016 2 637 M
Yield 2016 2,55%
P/E ratio 2016 19,38
P/E ratio 2017 17,87
EV / Sales 2016 2,15x
EV / Sales 2017 2,01x
Capitalization 77 049 M
More Financials
Chart LVMH
Duration : Period :
LVMH Technical Analysis Chart | MC | FR0000121014 | 4-Traders
Full-screen chart
Technical analysis trends LVMH
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 34
Average target price 171 €
Spread / Average Target 13%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Bernard Arnault Chairman & Chief Executive Officer
Antonio Belloni Group Managing Director & Director
Jean-Jacques Guiony Chief Financial Officer
Delphine Arnault-Gancia Director
Albert P. Frère Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
LVMH4.73%86 642
H & M HENNES & MAURITZ..-17.11%41 869
CHRISTIAN DIOR1.59%32 543
SAMSUNG C&T CORP--.--%25 011
VF CORP-10.33%23 151
UNDER ARMOUR INC-4.23%15 711
More Results