French luxury house of Moncler, one of the fastest growing and best performing luxury brands in the past 3 years, has been given the IPO green light on the Milan Stock Exchange for December 16. The company’s stock has been evaluated at 8,75 to 10,2 euro which resulted in a preliminary valuation between 2,18 to 2,55 billion euros.
Investment fund Eurazeo which owns a 45 percentage stake in Moncler since 2011 will be selling some of its stake through the IPO, which consists entirely of existing shares. Fellow shareholders Carlyle and Brands Partners 2 are also selling down their stakes, while company president Remo Ruffini, who helped boost the brand’s sales, plans to retain his 32 percent controlling stake.
Moncler was founded in 1952 by French entrepreneur René Ramillon that manufactures down jackets and sportswear. Moncler took its name from the abbreviation of Monestier-de-Clermont, an Alpine town near Grenoble.