Mar 29, 2013
Moncler could be signaling IPO
Mar 29, 2013
Moncler, known for its down jackets, could be gearing up for an IPO from the end of 2013, according to investment firm Eurazeo, which has a 32% stake in the company.
“We will discuss it further in September. If we decide to go ahead with the IPO, it could happen in the following quarter,” said Eurazeo.
In 2011, Moncler made plans for an initial public offering with Eurozeo who at the time had a 45% stake in the company (the have since relinquished 13% of their shares to Franco-Chinese company Cathay Capital and IDG-Accel-China Capital) In the end, plans were put on hold.
An entry to the stock exchange would allow Eurozeo an exit channel from the company, after have accomplished its objectives at Moncler much quicker than expected.
The Moncler group (which includes Henry Cotton’s, Marina Yachting, Coast Weber & Ahaus…) saw turnover rise from 423 million euros in 2010 to 624 million in 2012.
Growth at the company has been led by the Moncler brand, whose turnover rose 35% last year to 489 million euros. The group’s EBITDA jumped from 123 million euros in 2011 to 170 million in 2012.
Moncler, founded in 1952 in Monestier-de-Clermont near to Grenoble, had collapsed prior to being taken over by Italian Remo Ruffini in 2003, who saw the brand’s relaunch.
Since then, the brand has expanded to include knitwear, shoes and accessories and is in the midst of global expansion. The group opened 22 stores in 2012 and as many the previous year. At the end of 2012, Moncler owned 83 stores, including 46 in Europe, 31 in Asia and six in North America.
Italy current drives a quarter of sales (26%), but Asia is as important for the brand with revenue equivalent to that of Europe (excluding Italy), each generating 32% of global turnover.
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