The CEO of Moncler addressed speculation of a possible Kering takeover in a statement on Thursday. "At the moment... there is not any concrete hypothesis under consideration," CEO Remo Ruffini said. and indicated that senior executives at the two luxury houses held preliminary talks to discuss a deal, according to sources familiar with the matter.
That heightened expectations of more dealmaking in a luxury industry dominated by vast conglomerates, although some banking and sector sources said they were skeptical about the merits of a combination for both sides. Its larger Paris-based rival LVMH, owner of Louis Vuitton, recently raised the stakes by snapping up US jeweler Tiffany, increasing its presence in one of the fastest-growing pockets of the luxury industry.
It listed on Milan's bourse six years ago and has thrived by expanding in markets like Asia, while rejigging its strategy. "This trend is not a fashion moment, people change the way they dress, they want to be more free, more casual," Ruffini told Reuters in a 2018 interview.
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