Remo Ruffini partners with LVMH to increase his stake in Moncler

LVMH has purchased a 10 percent stake in Double R, the investment vehicle controlled by Remo Ruffini’s holding company, Ruffini Partecipazioni Holding that owns a direct stake in Moncler equal to approximately 15.8 percent.

The company said in a statement that the partnership between Ruffini Partecipazioni Holding and LVMH, will reinforce Remo Ruffini’s position as the largest shareholder of Moncler. Remo Ruffini will continue to drive Moncler Group’s plans for future development as chairman and CEO and the LVMH Group will support Ruffini’s vision.

Commenting on the development, Remo Ruffini, Chairman and CEO of Moncler, said: “I have long admired Bernard Arnault's entrepreneurial spirit and unique understanding of the luxury sector, and I am delighted he so clearly supports my long-term ambitions for our group’s extraordinary brands.”

Under the terms of the transaction, Double R will increase its stake in Moncler up to a maximum of 18.5 percent through further purchases of Moncler shares over a period of approximately 18 months. The funding of such purchases will be provided by LVMH which will increase its investment in Double R up to a maximum of approximately 22 percent.

LVMH now has the right to appoint two members to the board of Double R and one member to the board of Moncler.

“Remo Ruffini’s vision and leadership are remarkable and I am delighted to invest in his holding company to reinforce his position as leading shareholder in Moncler and support the independence of the Moncler Group,” added Bernard Arnault, chairman and CEO of LVMH.

Ruffini Partecipazioni Holding was assisted by Gatti Pavesi Bianchi Ludovici as legal advisor and Cornelli Gabelli e Associati as strategic advisor. LVMH was assisted by Bonelli Erede as legal advisor.