No M&A plans for Moncler in the foreseeable future

Moncler Chairman and Chief Executive Remo Ruffini ruled out earlier this month that the upscale coat manufacturer is looking into ramping up its mergers and acquisitions pipeline.

“I don’t know what other companies could be part of the group ... it is not in our plans today,” Ruffini said, answering a question from an analyst at the group’s Capital Market Day in Milan, reported Reuters.

The Italian high-end outerwear group doesn’t want to become an “aggregator” in the luxury industry in the near future. On the contrary, the luxury outwear retailer would rather focus on “a lot of things to do since launching a new product strategy”, ‘Genius’.

“I feel I want to be concentrated on the future and don’t see opportunities at the moment,” further clarified Ruffini, though he added he remained open to potential future tie-ups.