Ruffini Partecipazioni S.r.l. has just entered an agreement with two strategic long-term oriented investors, Singapore Investment Company Temasek and Juan Carlos Torres, investor and chairman of the leading travel retail group Dufry. The investment agreement aims at supporting the development of Moncler S.p.A. as one of the world’s leading luxury groups.
Ruffini Partecipazioni will contribute its stake in Moncler in a newly incorporated investment company fully owned by Ruffini Partecipazioni. Temasek and Mr. Juan Carlos Torres shall then acquire a combined equity stake of 24.4% in the Newco to be renamed as Ruffini Partecipazioni.
Concurrent with the execution of the agreement, Clubsette S.r.l., an investment vehicle controlled by Tamburi Investment Partners, which currently owns a 14% share of the corporate capital of Ruffini Partecipazioni, will exit from Ruffini Partecipazioni and will receive a 5.1% direct equity holding in Moncler as reimbursement and liquidation of its original investment in Ruffini Partecipazioni.
Following the exit of Clubsette and the contribution, Newco will hold a 26.8% stake in Moncler. As a consequence of the above transactions, Ruffini, chairman and CEO of Moncler, will remain the largest and controlling quota holder (through Ruffini Partecipazioni) of the Newco and of Moncler and will continue to define and drive Moncler’s plans for future development.
Commenting on the new partnership Remo Ruffini said: "In Temasek and Juan Carlos I have found what I have been seeking as I look toward the future phases of Moncler’s development. As partners they bring skills and experience to complement those we have within the group to pursue the right future growth opportunities.”
Moncler closed the first semester of 2016 registering €346.5 million revenues, +17% than in the correspondent period of 2015.
By end of 2016 the company aims to continue its future expansion plans. After the recent inauguration of their London flagship store they will open in Seoul and New York.