A new strategic partnership is gaining attention in the fashion industry. Remo Ruffini, the largest shareholder of Moncler and head of Ruffini Partecipazioni Holding, has strengthened his influence over the brand through a partnership with LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury group.
On September 26th, LVMH announced that it had acquired a 10% stake in “Double R,” an investment vehicle managed by Ruffini. Double R currently holds approximately 15.8% of Moncler’s shares. As part of this partnership, Double R plans to further increase its stake in Moncler to a maximum of 18.5% over the next 18 months. The funding for these additional shares will be provided by LVMH, which will increase its stake in Double R to up to 22%.
Ruffini will continue to drive the future development of the Moncler Group as its Chairman and CEO, committing himself fully to the brand’s success. Meanwhile, LVMH, as a stable long-term minority shareholder of Double R, will support Ruffini’s vision for the future of Moncler.
In conjunction with the transaction, both parties have signed a shareholder agreement governing their relationship as direct and indirect shareholders in Double R and Moncler. Under this governance structure, Ruffini retains sole control over Double R, while LVMH gains the right to appoint two members to Double R’s board and one member to Moncler’s board.
Commenting on the partnership, Ruffini, Chairman and CEO of Moncler, said: “This partnership reinforces Double R’s position in Moncler and provides the stability needed to execute my vision for the future. I have long admired Bernard Arnault’s entrepreneurial spirit and unique understanding of the luxury sector, and I am delighted he so clearly supports my long-term ambitions for our Group’s extraordinary brands.”
Bernard Arnault, Chairman and CEO of LVMH, remarked: “Moncler has been one of the most significant entrepreneurial success stories in the industry over the past twenty 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 on Moncler and support the independence of the Moncler Group.”
This partnership marks a significant step for Moncler as it continues to enhance its standing as a global luxury brand, now bolstered by LVMH’s support.