From 2009 to 2017, Yves Saint Laurent was embroiled in a scandal involving tax evasion that has shaken the company to its core. An investigation by Mediapart and the European Investigative Collaborations (EIC) revealed a cunning scheme orchestrated by its parent company Kering, which allowed YSL to dodge up to €180 million in taxes in France. Profits amounting to €550 million were redirected to a Swiss subsidiary through dubious offshore arrangements, where they faced a mere 8% tax rate instead of the steep 33% imposed in France. Such actions not only raised ethical questions about corporate responsibility but also led to a significant public relations nightmare for the luxury brand, tarnishing its image and forcing it to confront the realities of its financial practices in an increasingly scrutinizing market.
Preparing the daily feature…
AI concept artworkArchive Record · 2010s
Saint Laurent's Tax Evasion Scandal: €180 Million in Lost Revenue
Yves Saint Laurent / 2010s
From 2009 to 2017, Yves Saint Laurent was embroiled in a scandal involving tax evasion that has shaken the company to its core. An investigation by Mediapart and the European Investigative Collaborations (EIC) revealed a cunning scheme orchestrated by its parent company Kering, which allowed YSL to dodge up to €180 million in taxes in France. Profits amounting to €550 million were redirected to a Swiss subsidiary through dubious offshore arrangements, where they faced a mere 8% tax rate instead of the steep 33% imposed in France. Such actions not only raised ethical questions about corporate responsibility but also led to a significant public relations nightmare for the luxury brand, tarnishing its image and forcing it to confront the realities of its financial practices in an increasingly scrutinizing market.
The daily editorial is currently unavailable. There’s still an entire archive to explore.
