In the wake of the Prada IPO, where some investors balked at having to pay Italian taxes on their share purchases, according to Guangzhou Daily the government has announced plans to cut their taxes on luxury imports to the mainland by 2-15%. Brands all over Europe must be celebrating. Ooooooh the possibilities! The mind boggles.
Vanessa has been the FT’s fashion editor since 2003, and is based in New York, though she lived in London for 12 years.
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