- Kristopher Fraser |
All the speculation that someone was trying to buy Moncler was put to rest this morning by the Financial Times who reported that no one has asked to buy Moncler, with their CEO, Remo Ruffini, saying he would like to see what happens with the company in the next three or four years.
“It would seem to me a shame to be selling now,” Chairman and chief executive Ruffini said to the Financial Times.
14 years ago, Ruffini bought Moncler, which was bankrupt, and turned it into a 10 billion dollar business. With its luxurious puffers that cost upwards of 1000 dollars, the brand is considered one of the most coveted among luxury fashion lovers. Moncler's Genius Project, which brought a series of collaborations between other luxury designers, like Pierpaolo Piccioli of Valentino and Simone Rocha, has caused the brand's sales to rise 22 percent and their stock price to jump 74 percent since the first week of April 2017.
Currently, Ruffini has no interest in an acquisition and would prefer to focus on Moncler's more fast-paced collection strategy.photo: courtesy of C&M Media