by Stephen Garner

MonclerItalian luxury brand Moncler SpA has secured two additional investors. Singapore investment company Temasek, and Juan Carlos Torres, investor and chairman of travel retail group Dufry, have entered into an agreement with Moncler’s main stakeholder, Ruffini Partecipazioni S.r.l. to support the development of the fashion brand.

As per the agreement, Ruffini Partecipazioni will contribute its stake in Moncler in a newly incorporated investment company, which will be fully owned at inception by Ruffini Partecipazioni. Temasek and Torres will acquire a combined 24.4 percent equity stake in the new company, which will be called Newco. At the same time, Clubsette S.r.l., an investment vehicle controlled by Tamburi Investment Partners, which currently owns a 14 percent stake in Ruffini Partecipazioni, will exit the company and receive a 5.1 percent direct equity holding in Moncler as reimbursement and liquidation.

At the end of the operation the Newco will own 26.8 percent of Moncler and Remo Ruffini, chairman and CEO of Moncler, will remain the single largest and controlling shareholder.

“In Temasek and Juan Carlos I have found what I have been seeking as I look toward the future phases of Moncler’s development: committed, supportive, knowledgeable and ambitious strategic partners, who understand my vision for the brand, the company and our people,” said Ruffini. “As partners they bring skills and experience to complement those we have within the group to pursue the right future growth opportunities. Just as importantly, they also have strong economic alignment of interest with all of Moncler’s institutional and individual shareholders.”

“I’m so impressed by Remo’s vision for developing a unique luxury business and the innovative, thoughtful and serious way in which he goes about delivering on the objectives he sets,” said Torres. “Our commitment to the group’s successful growth and development reflects our admiration for what Remo and his team have achieved to date and our faith in the group’s outstanding prospects for the future.”

Tan Chong Lee, Head of Europe at Temasek, added: “We are pleased to partner with Remo in the development of Moncler moving forward. This investment represents Temasek’s largest commitment to an Italian company to date. We view Italy as home to leading consumer and luxury businesses that have considerable export and international growth potential.”