Moncler advances steady towards a Milan IPO

Upscale ski clothing Brand Moncler is firmly moving towards a public listing in Milan Stock Exchange. Moncler's owners - French investment group Eurazeo, designer Remo Ruffini and private equity firm Carlyle, have commissioned private

bankers at Lazard to advise on the company´s flotation.

As reported by ‘Les Echos’ earlier this week, Eurazeo, which owns 45 percent of the Italian manufacturer of ski jackets, reportedly commissioned Lazard private bank and independent advisor Claudio Costamagna to start preparations for its listing by the end of the year.

Moncler was already given the green light by the Italian market authorities and received preliminary regulatory approvals to go public in Italy, but the group had to give up this operation because of market conditions.

As broadly reported in French media, the appointment of Lazard was quite expected by the market as Eurazeo two years ago acquired control of Moncler own with the financial advice of the boutique Alps-based firm.

Moncler to go public in Milan

Moncler brand will be the only one listed (it accounts for up to the 70 percent of total turnover of the group which also includes Henry Cotton's, Marina Yachting, Coast Weber & Ahaus brands, amongst others).

The smaller brands have been gathered into a newly created company: Sportswear Industries and should soon be sold. Private equity fund Argos Soditic entered in conversations to lead the operation but has allegedly stepped back in the past weeks.

The listing of Moncler was first conceived in mid-2011, before Eurazeo decided to enter the share capital.

As reported by Reuters, the deal will be valued at circa 750 million euros as existing shareholders sell down their stakes in an initial public offering scheduled to take place in the second half of this year.