Moncler Board Meets to Discuss Ski-Wear Maker’s 3-Year Strategy

(Bloomberg) -- Moncler SpA, the Italian maker of luxury puffy ski jackets, is holding a board meeting to discuss the company’s strategy for the next three years.

Directors are meeting on Tuesday to review a 2020-2022 business plan in development, a spokesman for the Milan-based company said by phone. He declined to give details of the discussions, saying only that the meeting had been scheduled previously and wasn’t extraordinary.

Gucci owner Kering SA has held exploratory talks about a potential combination with Moncler, people with knowledge of the matter said earlier this month. Moncler at the time said it maintains contact with “sector participants” including Kering to explore potential opportunities, but that there was no concrete proposal under consideration.

Moncler is run by Chief Executive Officer and Chairman Remo Ruffini, whose investment vehicle owns a 22.5% stake. Ruffini bought the company in 2003 and transformed it into one of the world’s hottest luxury brands. The brand recently opened new stores in Copenhagen, Munich and Paris’s Charles de Gaulle airport, and it has 49 stores in greater China.

Moncler’s revenue has more than doubled since the company went public in 2013, and its profitability is second only to Hermes International among listed luxury companies. Its strategy since 2018 has been to collaborate with designers from around the world on limited-edition products to help spur social media buzz and keep the brand in the spotlight.

--With assistance from Robert Williams and Geraldine Amiel.

To contact the reporters on this story: Sonia Sirletti in Milan at ssirletti@bloomberg.net;Daniele Lepido in Milan at dlepido1@bloomberg.net

To contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, Anne Pollak, Eric Pfanner

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