Temasek Holdings stitches deal in Italian fashion
It has acquired an equity stake in a newly incorporated investment company from holding company Ruffini Partecipazioni, which has a 27.5 per cent share of Moncler.
It is Temasek’s first significant investment in an Italian company.
Established in Grenoble, France, in 1952, Moncler has a presence in more than 70 countries through a network of mono-brand stores and exclusive luxury department and multi-brand stores.
“Italy is home to leading consumer and industrial businesses that have considerable export and international growth potential,” says Temasek’s head of Europe, Tan Chong Lee.
Temasek sees opportunities in European companies that seek to expand and diversify their export markets.
Financial terms of the investment have not been disclosed.
Moncler had its IPO in Italy in 2013 and reported revenues of €880.4 million (US$975.5 million) last year, up from €694.2 million the previous year.