Prada bids final farewell to Luxembourg and brings all the companies of the group back to Italy, mainly to Milan. The made in Italy luxury and fashion brand began the complex return process in December and concluded it on 2 January with the cancellation from the registers of companies based in the Grand Duchy not only of Prada Holding (formerly Gipafin), to which it controlling the operating company listed in Hong Kong, but also Patrizio Bertelli's Pa Be 1 and Bellatrix, which own the shares of the three Prada brothers, as well as the three holdings of the founding family of the famous brand.
Last December's shareholders' meeting of Prada Holding Sarl — of which Pa Be 1 and Bellatrix are shareholders — had decided to transfer to Milan, in via Fogazzaro 8, under the name of Prada Holding Spa. The company has a share capital of 999 million euro divided into 2.400 ordinary shares and 600 preference shares. Miuccia Prada (who is also chairman of the board of directors), Carlo Mazzi (chairman of the listed Pradagroup) and the 27-year-old Lorenzo Bertelli are appointed as directors.
Prada had ended up in the crosshairs of the Milanese judges for "omitted and unfaithful tax return". The group had paid to the tax authorities "voluntarily" all the taxes due, by admission of the Revenue Agency itself, but the Milanese prosecutors asked for an extension of the investigations. The return to Italy should at this point definitively resolve the conflict on the alleged "foreign investment".
