With initial public offerings now in style, Moncler wants to stay on trend.
The cold-weather apparel maker said on Monday that it had applied to go public on the Milan Stock Exchange, becoming the latest fashion company to pursue a stock listing.
A gaggle of fashion labels have gone public in recent years, driven by investors’ desire to tap into luxury retail, a sector that has quickly rebounded since the global financial crisis. Among those that have taken to the stock markets are Michael Kors and the Italian brands Prada and Brunello Cucinelli, while Marc Jacobs stepped down from Louis Vuitton to focus on an I.P.O. for his own label.
French in origin â€" “Moncler†is a shortening of “Monastier de Clermont,†the village in Grenoble where the company was founded â€" the apparel company became famous for its line of quilted jackets. But its fortunes began to lift in 2003, when it was bought out by Remo Ruffini, an Italian entrepreneur who sought to make the brand fashionable around the world.
In recent years, Moncler has added separate collections designed by the likes of Thom Browne and Giambattista Valli to its more traditional lines.
Last year, the company took in sales of 489.2 million euros, or $663.7 million, and 161.5 million euros in earnings before interest, taxes, depreciation and amortization, or Ebitda. It currently runs 122 stores as well.
That success has drawn in other investors, including the investment firms Eurazeo and the Carlyle Group.
Goldman Sachs, Bank of America Merrill Lynch, Mediobanca are serving as global coordinators. JPMorgan Chase, Nomura and UBS will work as joint book runners and BNP Paribas, Equita SIM and HSBC will serve as lead managers.
The company has also retained Claudio Costamagna and Lazard as financial advisers and Latham & Watkins as legal counsel.
