Eurazeo to buy 45% stake in Moncler

06 Jun '11

3 min read

Eurazeo, Remo Ruffini, Carlyle and Brands Partners 2 announced that they have reached an agreement for Eurazeo to acquire a 45% stake in Moncler, the luxury apparel group, for a price of €418m. Remo Ruffini, the Chairman and Creative Director, will retain a 32% stake in the Company and Carlyle a 17.8% stake.

The Moncler Group manages five brands: Moncler, Henry Cotton's, Marina Yachting, Coast Weber & Ahaus and a 18CRR81 Cerruti licence. Founded in 1952 in Grenoble, as a technical brand rooted in the iconic down jacket, Moncler is today one of the leading brands in luxury outerwear. Moncler has a network of 55 stores in Europe, Asia and North America as well as a developed wholesale network. In 2010 the Group had a global turnover of €429m, after sustained growth over the last 4 years, and over 1000 employees.

Eurazeo intends to fully support the strategy of Remo Ruffini and his management team: further expanding geographic reach notably in China and the United States, opening new stores in top-end locations, launching online sales, widening product offering with new collections and an expanded range. All this is targeted towards capitalizing on Moncler's growing recognition as a global luxury brand. In addition the Group will continue to develop and realize the full potential of the other brands it owns and manages.

Patrick Sayer, Chairman of Eurazeo's Executive Board, declared: “We have been looking to invest in the luxury sector for a long time and we are delighted that the trust we built with Moncler and its shareholders has allowed us to seize this unique opportunity to invest in one of the best brand of the sector.”

Virginie Morgon, Executive Board Member of Eurazeo added: “We are very pleased to become the main shareholder in Moncler, an outstanding company in the luxury sector with a very strong heritage and significant opportunities for development. As a partner, we will support Remo Ruffini and the management team of Moncler in order to bring Moncler to the next level: a globally recognized luxury brand.”

Remo Ruffini, Chairman & Creative Director of Moncler, commented: “Eurazeo completely shares our long-term view and our ambition to establish Moncler as a leading luxury apparel group. Eurazeo will contribute, together with Carlyle, to strengthen the company, support our successful strategy and capture the full potential of international growth opportunities we have ahead of us. The listing of the company remains a strategic objective and we will continue to monitor opportunities in the public markets.”

Marco De Benedetti, Co-Head of Carlyle Europe said: “We are delighted to partner with Eurazeo to support Remo Ruffini and the Moncler Group in their effort to fully capture the strong growth potential of its brand portfolio and to further strengthen and internationalize the company. We are particularly proud of the growth we have supported over the past three years, in which time EBITDA has doubled and store numbers have increased significantly, and we look forward to driving the business with the new partnership.”

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