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Gucci’s parent company Kering is reportedly in talks over a potential takeover of Italian apparel company Moncler.
According to Bloomberg, executives at Kering and Moncler have held “preliminary discussions”, but also made it clear that there was no certainty the talks would lead to a transaction.
Additionally, reports suggest the takeover would would require Moncler’s CEO Francois-Henri Pinault to “win over” the company’s largest shareholder, Remo Ruffini.
Shares of Moncler increased by 12% this morning in Milan, and its current market values sits at around €11bn euros (£9.2bn).
It follows another high-profile luxury acquisition after Louis Vuitton (LVMH) announced a “definitive” agreement with Tiffany and Co., to acquire the luxury jewellers for $16bn (£12.5bn) in November.
Retail Sector has contacted Kering for comment.
