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LVMH has taken a 10 % stake in Italian luxury brand Moncler, gaining a seat on its board of directors in the process. The French luxury giant promises it will guarantee the independence of its new acquisition.
“Success”
More precisely, LVMH took a 22 % stake in Double R, Moncler CEO Remo Ruffini’s fund. This deal further allowed Double R to raise its stake in Moncler from 15.8 % to 18.5 %, Bloomberg reports.
LVMH CEO Bernard Arnault called Moncler one of the most significant entrepreneurial successes in the luxury industry over the past twenty years. The luxury brand had a strong first half of the year, with sales growing 11 % to more than a billion euros.
