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Source: MIGUEL MEDINA / Getty

Gucci is known for being a high-end retail store. According to High Snobiety, Gucci in Milan and Florence were recently raided. They are now also being investigated over tax evasion.

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Gucci recently put out a statement and said, “Gucci is providing its full cooperation to the respective authorities and is confident about the correctness and transparency of its operations.” Sources say that police allegedly spend days looking for evidence and suspects they made profits from sales in Italy, but were declared in Switzerland.

If this happened this means the company will be in trouble for conducting tax affairs abroad. They allegedly saved up to almost $1.5 bn in domestic tax. This is still being investigated, but we will keep you posted on what happens.

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