French listed private equity firm Eurazeo has invested €418m in Italian clothing brand Moncler, leading the company to scrap a planned IPO.
The firm is to take a 45 per cent stake in the company, leaving chairman and creative director Remo Ruffini with a 32 per cent stake, and US private equity firm Carlyle with 17.8 per cent.
The company produces high-end goose down jackets under the Moncler brand, and also owns the Henry Cotton’s Marina Yachting and Coast Weber & Ahaus brands.
Founded in 1952 in Grenoble, France, but currently headquartered in Italy, Moncler has 55 stores across Europe, Asia and North America, posting global turnover of €429m in 2010.
Following Eurazeo’s investment, the company said it aims to ramp up its presence in China in the US, as well as opening stores in other high-end districts in cities across the world.
“We have been looking to invest in the luxury sector for a long time,” said Eurazeo executive board chairman Patrick Sayer.
In April, Eurazeo launched a bid to acquire fellow Euronext Paris-listed firm OFI Private Equity Capital in exchange for shares valued at €132m.
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