French authorities have launched an investigation into fashion designer Karl Lagerfeld's tax affairs.
A report published in French weekly news magazine L'Express on Wednesday, January 6, suggests French tax authorities are probing his finances amid fears he owes around $22.5 million (£15 million) to the government.
The investigation reportedly concerns two property investment companies and the 7L Bookshop in Paris, France, which Lagerfeld founded in 1999. It houses a photography studio owned by a British-based company, which takes the profits from his photographs.
His spokeswoman Caroline Lebar tells the Associated Press that Lagerfeld's financial advisors are working with tax authorities in a bid to resolve the situation.
Lagerfeld, 82, is also creative director of Fendi and his eponymous fashion label.
Hey, Preview readers! Follow us on Facebook, Instagram, YouTube, Tiktok, and Twitter to stay up to speed on all things trendy and creative. We’ll curate the most stylish feed for you!
