Most Recent Articles In Fashion ScoopsMost Recent Articles In Fashion Scoops
- Kering Scoops Another Environmental Award
- Sofia Coppola to Serve on Jury at Cannes Film Festival
- Mimi Crume Sterling Joins Neiman Marcus Group's P.R. Team
HEADING TO A LISTING: Moncler plans to list around 25 percent of its shares, said Claudio Costamagna, advisor for the company’s long-awaited initial public offering, according to a Reuters report. Costamagna was speaking on the sidelines of the financial Forum Ambrosetti in Cernobbio, Italy. Confirming previous reports, Costamagna said the IPO is expected to take place between the end of the year and early next 2014, depending on the market. Costamagna, who is an independent administrator of Italian eyewear giant Luxottica and has for years held the role of president of Goldman Sachs’ Investment Banking division for Europe, the Middle East and Africa, also noted that Moncler is not planning a capital increase as the funds that own the brand are expected to sell.
Besides chairman and creative director Remo Ruffini, who has a 32 percent stake, the Paris-based Eurazeo has a 45 percent stake, The Carlyle Group owns 17.8 percent and Brand Partners the remaining shares.
As reported in June, sources in Milan said the Italian brand has chosen a pool of banks including Bank of America Corp., Mediobanca, Banca IMI, J.P. Morgan and UBS to manage the IPO and that it is waiting for the right window. Moncler declined to comment.