The pandemic has forced luxury goods companies to use social media, video and virtual showrooms to woo their wealthy customers in Europe when tourists, especially from China, have been absent for more than a year.
Ruffini Partecipazioni, the investment vehicle of Moncler CEO Remo Ruffini, said on Wednesday it had completed the accelerated bookbuilding for the placement of a 3.2% stake at a price of 48.80 euros per share.
Luxury puffer jacket maker Moncler is betting heavily on younger consumers and the Chinese market to help sales bounce back from the coronavirus crisis, its boss said, seeing scope for a recovery in late 2021.
Moncler is to acquire Stone Island’s parent company with the outerwear specialist aiming to eventually take over the entire share capital of the business in a deal that values Moncler’s smaller peer at €1.15 billion.
Italian fashion group Moncler reported a first-half operating loss for the first time in its history on Monday as a drop in sales caused by the coronavirus crisis lockdowns accelerated sharply in the second quarter.
Moncler said on Thursday it had signed an agreement with France's Interparfums to start selling perfumes, as it seeks to diversify its brand and lessen the impact of the coronvirus crisis on the luxury goods sector.
At the presentation of the luxury group's annual results, boss François-Henri Pinault said there is no acquisition on the cards at the moment, the priority being ensuring the growth of Kering's own labels.
Shopper numbers at Moncler stores in China have plunged 80% since the country's coronavirus outbreak, the Italian label said on Monday, joining other high-end brands in warning of a big hit from the epidemic.
JW Anderson is the latest big name to be added to the list of Moncler Genius designers and is joining for its 2020 drops, as is another newcomer Rimowa, and an unexpected addition from outside of the fashion field.