Prada bosses under investigation for alleged tax evasion

Prada's two chief executives are being investigated by Italian authorities for possible tax evasion, the company said.

Miuccia Prada and Patrizio Bertelli are being examined over "the accuracy of certain past tax filings by them as individuals in respect of foreign-owned companies", it said in a statement.

The inquiry comes after Prada disclosed it was bringing its holding company back to Italy from Luxembourg in 2013.

The alleged tax evasion stems from the 10 years they were based in Luxembourg.