Kering To Takeover Moncler?
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The rivalry between LVMH and Kering continues.
After LVMH recently closed the biggest luxury deal to date, acquiring luxury jewellery icon, Tiffany & Co for $16.2bn.
Kering, a parent company of brands like Gucci and Balenciaga, is now reportedly looking to make a deal with luxury ski-wear brand Moncler, which has a market value of £12bn.
Moncler’s benefit to Kering is pretty obvious, as the luxury brand’s sales increased 12% this year, likely due to its innovative ‘Moncler Genius’ – keeping the brand relevant and fresh.
It’s not surprising that Kering is trying to keep up with LVMH.
However, CEO of Moncler, Remo Ruffini, has downplayed speculations, confirming that although Moncler has been in contact with Kering, “at the moment there is not any concrete hypothesis under consideration”.
What do you think is driving luxury companies to keep adding to their baskets lately?
Let us know, below!
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See also: KERING COMMITS TO CARBON NEUTRALITY