Italian investment firm Tamburi buys stake in Moncler
There are changes taking place at Moncler as it readies itself for an initial public offering. Italian investment firm Tamburi Investment Partners (TIP) has paid 103 million euros for a 14% stake in Ruffini Partecipazioni, the holding company for the investments of Moncler chairman and creative director Remo Ruffini, which in turn owns a 32% stake in Moncler. Estimations based on this transaction value the Moncler group at 2.3 billion euros.
The group – which operates labels Henry Cotton’s, Marina Yacthing, Coast Weber & Ahaus as well as the 18CRR81 Cerruti license – saw annual revenue grow from 432 million to 624 million euros between 2010 and 2012 and continues to show signs of growth. Moncler’s IPO has been the subject of industry speculation for over a year and was confirmed in March by investment firm Eurazeo, which owns a 32% stake in the group.
The TIP investment goes to concretize president/designer Ruffini’s mid- to long-term vision for the brand and his intention to remain firmly in control at the company.
The investment was made via special purpose vehicle Clubsette, 52.5% of which is owned by TIP and the rest by Italian entrepreneurs and shareholders in TIP. Tamburi Investment Partners differs from traditional investment firms by supporting familial capitalism and works with over 100 important Italian family offices.
The recent cession of French department store Printemps to Qatari owners by the Borletti Group lead to a 30 million euro capital gain for the investment fund. Last May, Tamburi bought a 20% stake in French furniture brand Roche Bobois.
“The aim of the transaction is of further strengthening the shareholders structure of Ruffini Partecipazioni as relevant shareholder of Moncler, in perfect coherence with TIP consolidated investment philosophy,” said the company in a press release.
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