We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Sep 21, 20201:05am

Kering squashes Moncler purchase rumor

Kering shuts down down acquisition of Moncler. The group led by François-Henri Pinault confirms that the acquisition of the French company is not on the table. Pinault argues that the group will focus on existing brands, which include Saint Laurent, Balenciaga and Gucci, among others.

Feb 13, 2020 — 5:43pm
MDS
Related topics
Save

Kering squashes Moncler purchase rumor

 

 

Kering shuts down down acquisition of Moncler. The group led by François-Henri Pinault confirms that the acquisition of the French company is not on the table. Pinault argues that the group will focus on existing brands, which include Saint Laurent, Balenciaga and Gucci, among others.

 

Remo Ruffini, a Moncler executive, clarified that the conversations he was having with Pinault were related to the Fashion Pact, the industry’s environmental initiative, led by Kering.

 

Following rumors of talks between Kering and Moncler, published by Bloomberg, the value of the French company’s stock rose. The company is currently valued at 9.8 billion euros (10.7 billion dollars).

 

 

 

 

The last time the group assessed the purchase of a company was in 2018, when it ruled out the acquisition of Versace. Finally, Michael Kors took over the company for 2.1 billion dollars

 

LVMH, its French competitor, last year acquired the Tiffany jewelry company for 16.2 billion dollars, by far the greatest deal in the sector. Kering shareholders have reflected their desire that the group be less dependent on Gucci, which represents 60% of the group’s total revenue.

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...