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Moncler gets two new shareholders

By Kristopher Fraser

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Business

Moncler now has two new shareholders: Singapore investment company Temasek, and Juan Carlos Torres, the investor and chairman of travel retail group Dufry.

Ruffini Partecipazioni, Moncler's main shareholder, controlled by Moncler chairman and chief executive officer Remo Ruffini, has entered into agreement with the two strategic long-term oriented investors to support the development of the brand.

As part of the agreement, Ruffini Partecipazioni will contribute in kind its stake in Moncler in a newly incorporated investment company, which will be fully owned at inception by Ruffini Partecipazioni. Temasek and Torres will acquire a 24.4 percent equity stake in the company.

Clubsette Srl, an investment group controlled by Tamburi Investment Partners, which currently own a 14 percent stake in Ruffini Partecipazioni will exit the company and receive a 5.1 percent direct equity holding in Moncler as reimbursement and liquidation.

In May, Tamburi signed an agreement with Furla for a capital increase as an IPO of the brand could happen in 2018. The Marzotto, Loro Piana, and Ferragamo families are among the investors in Tamburi, which also has investments in Hugo Boss and Ferrari.

The new shareholder structure sees Ruffini Partecipazioni holding a 26.8 percent stake in Moncler, leaving them as the single largest and controlling shareholder.

Eurazeo SA will continue to hold a 15.53 percent stake in Moncler, Norges Bank a 2.04 percent stake, and T. Rowe Price Associates Inc. will hold a 4.95 percent stake. The remaining shares in Moncler will continue to be traded on the Italian Stock Exchange.

“In Temasek and Juan Carlos, I have found what I have been seeking as I look toward the future phases of Moncler’s development: committed, supportive, knowledgeable and ambitious strategic partners, who understand my vision for the brand, the company and our people,” Ruffini said in a statement.

“As partners they bring skills and experience to complement those we have within the group to pursue the right future growth opportunities. Just as importantly, they also have strong economic alignment of interest with all of Moncler’s institutional and individual shareholders,” he added.

The new shareholder structure was revealed a day after Moncler reported growth across all markets and distribution channels in the first half of the year, and a 17 percent spike in revenues to 346.5 million euros or 388 million dollars at average exchange rates, compared with the same period last year.

Earlier this year, Moncler also announced a collaboration with Off-White, as they attempt to grow their business and draw in more customers. Their strategy seems to be working in their favor as they are showing robust growth.

photo via Moncler website

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