LVMH has struck a deal with the chief executive of Moncler to take an up to 22 per cent stake in the investment vehicle that controls the Italian luxury outerwear specialist.
Bernard Arnault’s group has bought a 10 per cent stake in Double R, the entity through which Moncler chair and chief executive Remo Ruffini owns 15.8 per cent of the business, via a special purpose vehicle. It has the option of increasing that stake to up to 22 per cent.
Under the terms of the agreement, using LVMH funds, Double R will increase its stake in Moncler to up to 18.5 per cent over the next year and a half, reinforcing Double R’s position as its biggest shareholder.