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French taxman may swallow up Lagerfeld's inheritance after 7-year legal battle

On account of outstanding tax arrears, the fashion designer’s heirs may never see a penny of their inheritance.© Studio Pachamama

The inventory of the estate of the late fashion designer was completed in December, in theory meaning that his inheritance can be distributed this year. But an investigation by Glitz has revealed that the nine beneficiaries designated in the will may end up with nothing once tax authorities have claimed their share.

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Watchmaker Richard Mille soaks up rosé losses

For the last seven years, the French industrialist and his partners have been channelling some of the handsome earnings from their high-end watch company into a vineyard in the south of France. But despite the substantial investment, the estate is still a loss-making concern.

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Houses

Puig pools its fashion brands

Puig will announce its results next week. The group's growth, which relies almost exclusively on perfumes, is pushing it to pool the resources of its fashion houses, which have been reduced to serving as showcases for the eponymous perfumes.

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Kering fails in bid to get tax reductions

The French luxury group, which has just announced a sharp drop in earnings, is restructuring to cut costs but has failed to pass off more than €10m in old penalties as expenses in order to reduce its tax bill.

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Entourage

Patrick McKillen's last battle against Qatari royals

The Irish developer won an initial arbitration case last summer over the value of his stake in the ultra-luxury Maybourne Hotel Group, which he sold to the Qatari royal family. He is now fighting a second case over his fees as manager of the group's luxury hotels.

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