Who Owns Moncler Company?

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Who Owns Moncler?

Understanding a company's ownership is key to grasping its direction and influence. For Moncler, a luxury outerwear leader, this is especially true given its transformation. A major turning point was Remo Ruffini's 2003 acquisition, leading to its 2013 IPO.

Moncler, founded in 1952 in France, is now an Italian luxury fashion house. Headquartered in Milan, it reported over €3.1 billion in revenue for 2024, operating globally through its stores and wholesale. Its iconic down jackets are a hallmark of its premium offering, as detailed in its Moncler PESTEL Analysis.

Who holds the reins of this fashion powerhouse?

Moncler's journey began in 1952, founded by French craftsman René Ramillon and André Vincent in Monestier-de-Clermont, France. Their initial focus was on crafting functional mountain gear, including sleeping bags and tents, laying the groundwork for the brand's future in outdoor apparel.

Founding Vision

The founders, René Ramillon and André Vincent, established Moncler with a commitment to creating high-quality, functional outdoor equipment. Their vision was to produce gear capable of withstanding extreme weather conditions, a principle that would guide the brand's early development.

Early Product Innovation

In 1954, Moncler introduced its first down jackets, initially designed for the company's factory workers. These jackets quickly gained recognition for their warmth and durability, particularly after being adopted by French mountaineer Lionel Terray.

Founders' Equity

While the specific equity splits between René Ramillon and André Vincent at the company's inception are not publicly detailed, their collaborative effort was instrumental in establishing the brand's foundation.

Pivotal Acquisition

A significant turning point in Moncler's ownership occurred in 2003 when Italian entrepreneur Remo Ruffini acquired the brand. At the time, Moncler was reportedly facing financial difficulties.

Ruffini's Transformation Strategy

Remo Ruffini, who had previously worked with Moncler as its creative director, initiated a comprehensive transformation. His strategy focused on repositioning the brand from its roots in functional outdoor wear to a prominent position in the global luxury market.

Brand Evolution Under New Ownership

Ruffini's acquisition marked a critical juncture in Moncler's history, fundamentally altering its brand identity and strategic trajectory. This ownership change paved the way for the company's subsequent growth and eventual public offering.

The acquisition by Remo Ruffini in 2003 was a defining moment for Moncler, shifting its trajectory from a struggling outdoor brand to a globally recognized luxury fashion house. This strategic move by Ruffini, who had prior experience with the brand, was key to its revitalization and subsequent success, impacting its Target Market of Moncler.

Key Ownership Milestones

Moncler's ownership history is marked by its founding in 1952 and a significant acquisition in 2003. These events shaped the brand's identity and market position.

• Founding by René Ramillon and André Vincent in 1952.
• Introduction of the first down jackets in 1954.
• Acquisition by Remo Ruffini in 2003.
• Repositioning from outdoor gear to luxury brand.

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The ownership journey of Moncler has seen significant shifts, notably beginning with Remo Ruffini's pivotal acquisition in 2003, steering the company towards a luxury focus. Before its public offering, private equity firms were instrumental in its growth. The Carlyle Group secured a 48% stake in 2008, with Ruffini retaining 38%. French investor Eurazeo also participated, acquiring 45% of shares and 50% of voting rights in 2011 before divesting its stake in March 2019.

Moncler's Initial Public Offering (IPO) on the Milan Stock Exchange on December 16, 2013, was a landmark event, with shares being 27 times oversubscribed and experiencing a 47% surge on the first day, establishing an initial market capitalization exceeding €4 billion. As of July 23, 2025, Moncler's market capitalization has grown to approximately €13.71 billion. The current primary stakeholder is Remo Ruffini, who, as of March 2024, held a substantial 24% ownership through his holding company, Ruffini Partecipazioni S.r.l. (RPH). RPH indirectly manages Moncler via Double R S.r.l. (DR). By December 31, 2024, RPH owned 90% of DR, which in turn controlled 16.49% of Moncler's capital, with Ruffini also holding a direct 0.08% stake. Other significant institutional investors include BlackRock Inc., which had acquired a 5.026% stake in Moncler's share capital by March 2019. The acquisition of Stone Island in December 2020 for €1.15 billion was a strategic move that broadened the Moncler Group's portfolio and integrated Carlo Rivetti, Stone Island's president, as a shareholder in Ruffini Partecipazioni (now Double R), further diversifying the capital structure and reinforcing its multi-brand luxury strategy.

Moncler's Shareholder Landscape

Understanding who owns Moncler reveals a blend of founder control and institutional investment. This structure supports the brand's continued growth and strategic direction.

• Remo Ruffini is the primary stakeholder, holding a significant percentage through his holding companies.
• Institutional investors like BlackRock Inc. are also major shareholders.
• The acquisition of Stone Island has further diversified the ownership base.
• Moncler is a publicly traded company on the Milan Stock Exchange, indicating broad public ownership.
• The history of Moncler ownership includes strategic investments from private equity firms prior to its IPO.

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The current Board of Directors for Moncler S.p.A. consists of 15 members, serving a three-year term from 2025 to 2027. Remo Ruffini holds the positions of Chairman and Chief Executive Officer, guiding the company's strategic direction.

The voting power within Moncler largely follows the standard one-share-one-vote principle common for companies listed on Euronext Milan. However, significant influence is concentrated through Remo Ruffini's ownership via Double R S.r.l., which held 16.87% of the company's share capital as of April 16, 2025. This substantial stake translated into considerable control, as Double R S.r.l.'s nominated board candidates secured 58.365% of the votes at the April 2025 shareholders' meeting. An alternative list, supported by asset management companies and institutional investors representing 1.58% of the share capital, garnered 41.143% of the votes, indicating a segment of shareholder participation beyond the primary controlling entity. There are no publicly disclosed shares that grant special control rights beyond those inherent to share ownership.

Moncler's Shareholder Landscape

Remo Ruffini, through Double R S.r.l., is the majority shareholder, wielding significant voting power. The company's governance structure reflects a blend of founder influence and broader institutional investor participation.

• Remo Ruffini is the Chairman and CEO.
• Double R S.r.l. holds 16.87% of Moncler's share capital.
• Ruffini's board nominations received 58.365% of shareholder votes.
• Institutional investors hold a notable minority stake.
• The company operates under a one-share-one-vote principle.

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Over the past few years, Moncler's ownership has seen strategic realignments, notably following the acquisition of Stone Island and adjustments to its capital structure. These moves aim to streamline the company's shareholder base and enhance its appeal to a broader investor audience.

Recent developments indicate a strategic simplification of Moncler's ownership structure. Following the acquisition of Stone Island, key investors like Temasek and the Rivetti family have transitioned from holding stakes in Ruffini Partecipazioni (Double R S.r.l.) to becoming direct shareholders in Moncler itself. This shift, which saw Temasek and the Rivetti family each acquire a 4% direct stake in Moncler in February 2024, is intended to make the luxury brand more accessible to potential investors by clarifying its corporate structure.

Moncler's Financial Performance

In the first half of 2025, Moncler reported consolidated revenues of €1.225 billion, a 1% increase at constant exchange rates compared to the first half of 2024. The company maintained a net cash position of €980.8 million as of June 30, 2025.

Future Investment Strategy

Moncler plans for sustainable growth, with net investments projected to be around 7% of annual revenues. The company is focused on strengthening its brands and operational agility amidst an uncertain global economic outlook.

Shareholder Structure Evolution

The transition of significant stakeholders to direct ownership in Moncler aims to simplify its corporate profile. This move is part of a broader strategy to enhance transparency and potentially attract a wider range of investors, contributing to the ongoing evolution of Moncler ownership.

Strategic Shareholder Actions

Moncler's CEO, Remo Ruffini, is set to retain a 16% stake in the company. This strategic positioning, alongside the direct stakes held by other key parties, underscores a commitment to maintaining a stable and focused ownership base, as further detailed in the Competitors Landscape of Moncler.

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