Home / Knowledge / News / Apparel/Garments / Carlyle to support sportswear company Moncler
Carlyle to support sportswear company Moncler
08
Aug '08
Global private equity firm The Carlyle Group announced that it has agreed to acquire a 48% stake in Moncler S.p.A., the holding entity of Moncler Group, a manufacturer of high-end sportswear products under the brands Moncler, Henry Cotton, Marina Yachting and Coast, Weber & Ahaus (CWA) and licensee of the second-line brand Cerruti.

Before the transaction, Moncler S.p.A. was owned by Mittel Private Equity (35%), by Progressio Sgr (22%), by ISA S.p.A. (4%), by Remo Ruffini (38%) and by the management (1%).

Subject to regulatory approval, the transaction is expected to close by the end of 2008, after which Remo Ruffini will continue to head the company and to own a 38% stake of Moncler S.p.A; Mittel Private Equity, Progressio and ISA will own a total stake of 13.5% and the management will own a 0.5% stake.

Remo Ruffini took over the majority of Moncler in 2003, while Mittel Private Equity, Progressio and ISA entered the company two years later.

During the last five years, thanks to the support of its shareholders and a new creative, commercial and communication strategy, the company re-launched all of its brands, leading to a considerable increase in sales, both in Italy and abroad.

During the last three years, Moncler's turnover increased by an annual rate of 17%, from 183 million Euros in 2005 to 290 million Euros expected at the end of 2008, with foreign sales accounting for about 40% of total turnover (about 30% in 2005).

Moncler distributes its products in high end shops and department stores in Italy and globally, and through six of its own brand boutiques in Crans sur Sierre and St. Moritz (Switzerland), Paris and Megève (France) and Courmayeur and Cortina d'Ampezzo in Italy. In addition to this, Moncler branded boutiques are opening in Milan, Gstaad (Switzerland) and Aspen (USA).

“Moncler is a historic sport luxury garment brand that has returned to play a relevant and prestigious role in the market,” said Marco De Benedetti, Managing Director of The Carlyle Group.

“Moncler succeeded in its development thanks to the unique talent and extraordinary job of Remo Ruffini, of all the management team and to Mittel's support in the last years.

Starting from, as shareholders of the company, we will support Moncler with strategic vision and the means necessary to maximize the important global development opportunities for Moncler and the other brands of the Group.”

“I am grateful to my shareholders for their support received through these years of hard work in re-launching Moncler. I am now very enthusiastic to have Carlyle as a shareholder to face the new challenges of growth together,” said Remo Ruffini, Chairman of Moncler.

“Carlyle entering the company marks the beginning of a new era: the growth of Moncler as a global brand,” added Guido De Vivo, Chief Executive Officer and shareholder of Mittel Private Equity.

“For Progressio this transaction represents the first exit after only 3 years of activity, and at the same time allows the fund to continue and take part as shareholder in the international development process of Moncler,” added Pietro di Nola, Chief Executive Officer of Progressio Sgr.

The investment in Moncler was made through Carlyle's third pan-European buyout fund, Carlyle Europe Partners III, a 5.35 billion Euros fund, which closed in 2007.

The Carlyle Group was advised by Studio Legale Pedersoli e Associati as legal adviser. Shareholders Mittel and Remo Ruffini were advised by Studio Legale Agnoli, Bernardi e Associati.

The Carlyle Group


Must ReadView All

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Courtesy: 2XU

Apparel/Garments | On 15th Dec 2017

L Catterton Asia announces JV of GXG and 2XU

L Catterton Asia, the Asian unit of the largest and most global...

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

Interviews View All

Top executives
Textile industry

The foremost issue is bridging the skill gap

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Urmil Arya

Sushila International, a well established textile organisation established ...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search