Kering goes shopping: considers acquisition of Moncler
The French luxury giant, owner of brands like Gucci, Bottega Veneta and Yves Saint Laurent, has held exploratory talks to take over the Italian company.
Kering follows the steps of LVMH. The French luxury conglomerate, owner of brands like Gucci, Bottega Veneta and Yves Saint Laurent, has held exploratory talks to acquire the outdoor fashion company Moncler, according to Bloomberg.
The luxury giant is currently having preliminary discussions with Moncler, owned by Remo Ruffini, which is valued at 10.8 billion dollars. However, none of the companies has made official comments about the transaction.
Moncler ended the third quarter of the year with sales of 969.1 million dollars, experiencing an increase of 18% compared to the same period last year. At the end of this period, the group has 2,144 points of sale distributed around the world.
This move is taken after the group’s rival LVMH closed the largest transaction in its history. A few weeks ago, LVMH sealed the purchase of Tiffany for 16.2 billion dollars, the biggest corporate luxury operation ever made.
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