LVMH Invests in Luxury Outerwear Label Moncler Through New Deal
LVMH acquired a 10% stake in investment vehicle Double R, a partial owner of Moncler.
LVMH has a seat on the board of Moncler, an outdoor brand largely known for its ski jackets. The French fashion conglomerate acquired a 10% stake in the investment vehicle Double R, which is a partial owner of Moncler.
Owned by Moncler CEO Remo Ruffini, Double R has a 15.8% stake in the Milan-based label. The investment deal was organized by Ruffini, who is also the outerwear brand’s largest stakeholder.
Double R’s stake in the brand is expected to grow to over 18%, however, as the investment vehicle puts LVMH’s funds to use.
Ruffini will continue to lead both Double R and Moncler. LVMH will appoint two of its board members to Double R and one to Moncler.
“This partnership reinforces Double R’s position in Moncler and provides the stability needed to execute my vision for the future,” Ruffini said in a
statement.
“Moncler has been one of the most significant entrepreneurial success stories in the industry over the past 20 years. Remo Ruffini’s vision and leadership are remarkable and I am delighted to invest in his holding company to reinforce his position as leading shareholder,” LVMH CEO Bernard Arnault said.
Moncler was founded in France in 1952 but moved its corporate headquarters to Milan after Ruffini acquired the brand in 2003. In 2020, Moncler also bought the Italian luxury label Stone Island for an estimated $1.28 billion USD.
