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Moncler

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Moncler S.p.A.
Company typeSocietà per azioni
BIT: MONC
FTSE MIB component
IndustryFashion
Founded1952; 73 years ago (1952) in Monestier-de-Clermont, France
FounderRené Ramillon, André Vincent
Headquarters
Milan
,
Italy
Key people
Remo Ruffini (CEO)[1]
Revenue€3.1 billion[2] (2024)
€639.6 million[2] (2024)
Number of employees
6,754[3] (2024)
SubsidiariesStone Island
Websitewww.monclergroup.com, www.moncler.com

Moncler S.p.A. is an Italian luxury fashion brand specialized in ready-to-wear outerwear headquartered in Milan, Italy.[4][5] Its core branding includes the cockerel, "M" monogram, felt appliqué badge, crossed skis and cartoon duck mascot.

Founded in the Alpine town of Monestier-de-Clermont, France, a ski resort near Grenoble, by René Ramillon, a French mountain gear craftsman, and André Vincent. Italian entrepreneur Remo Ruffini bought the company in 2003 and moved it to Milan, re-launching Moncler as a global purveyor of luxury goods.

Since 2013 Moncler has been listed on the Milan Stock Exchange. The house's collaborations with emerging designers and €1.15 billion-acquisition of Stone Island in 2020, has led to its increased presence in streetwear fashion.[6][7]

History

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French Origins: 1952 – 1992

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Founded in 1952 by René Ramillon and André Vincent,[8][9] the name is an abbreviation of Monestier-de-Clermont, a village in the mountains near Grenoble, France.[10]

In the beginning, Moncler produced padded sleeping bags, a single model of lined hooded cape, and tents with a telescopic structure and external covering. The first Moncler down jackets were made in 1954 for the company’s own workers, who wore them over their work overalls at the small mountain factory.[11] The first to note them and realize their potential was French mountaineer Lionel Terray. The result saw the specialist range "Moncler pour Lionel Terray".[12]

In 1954, Moncler quilted jackets were chosen to equip the Italian expedition to K2, which culminated with the conquest of the earth's second-highest summit by Achille Compagnoni and Lino Lacedelli.[13][14] Moncler also accompanied the French expedition which reached the summit of Makalu in 1955[15] and was the official supplier for expeditions in Alaska organised by Lionel Terray in 1964.[16] During the Grenoble Winter Olympics in 1968,[17][18] Moncler became the official supplier of the French national downhill skiing team; [17]on this occasion, the Moncler logo was changed, replacing the previous Monte Eguit symbol with a cartoon duck named MonDuck.[19]

In 1972, the French national team adopted a new version of the down jacket: no longer the "double" model, but a single, more practical and lightweight garment tailored to the requirements of competitive sports. Initially named "Huascaran" and later "Nepal," the model featured leather shoulder reinforcements designed to carry skis without damaging the fabric. The concurrent rise of mass winter tourism had a positive impact on sales.[20] During the 1980s, the down jacket—with its quilted construction and glossy finish, also available in bright colors—began to spread in urban areas[21] and became an iconic garment associated with a specific italian youth subculture of the era.[22] Fashion designer Chantal Thomass collaborated with the company until 1989, reinterpreting the aesthetic of the brand.

Italian Development: since 1992

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In 1992, Moncler became an Italian brand through its acquisition by Pepper Industries, which later sold it to Finpart.[23] In 2003, the brand was acquired by entrepreneur Remo Ruffini, who at the time also served as the company’s creative director. Under his leadership, Moncler underwent a profound transformation and was repositioned as a luxury brand.[24][25]

In 2006, the Moncler Gamme Rouge line was launched. Initially designed by Alessandra Facchinetti until 2008,[26] the line was subsequently led by Giambattista Valli until 2018.[27][28] In 2007, the company shifted its distribution strategy by opening its first monobrand boutique in Paris, followed by stores in Milan (2008) and New York (2009).[29][30]

In 2008, the Carlyle Group acquired a 48% stake in the company, while Ruffini retained 38%. In 2009, Moncler introduced Moncler Gamme Bleu, a menswear collection designed by Thom Browne until 2018.[31][32] The following year, Moncler launched the Moncler Grenoble line in New York, a technical collection dedicated to skiing and après-ski wear.[33]

Eurazeo, a French shareholder, invested in the Moncler group in 2011, in order to take 45% of the shares and 50% of the voting rights before selling the company for €1.4 billion in March 2019. Remo Ruffini remained the second-largest shareholder, with his stake reduced from 38% to 32%, while the Carlyle Group decreased its shareholding from 48% to 17.7%.[23]

An IPO of Moncler on the Milan Stock Exchange took place on 16 December 2013, with an initial value of €10.20 per share.[34] The shares were 27 times oversubscribed and rose 47% on the first day, resulting in a market capitalization of more than €4 billion.[35][34][36]

In 2015, Remo Ruffini regained his position as the largest shareholder of Moncler with a 32% stake, while Eurazeo reduced its holdings to 15.5%.[37] A new shareholding structure was established in July 2016: two new partners — the Singapore sovereign wealth fund Temasek and Spanish businessman Julián Díaz González (known as Torres), Chairman of Dufry — acquired a combined 24.4% stake in Ruffini Partecipazioni, the holding company that controls Moncler. Ruffini retained a 75.6% majority in the new entity, while Clubsette, the investment vehicle of Tamburi Investment Partners, exited the structure.[38]

In February 2018 Moncler launched the Moncler Genius project, a new creative and business model where well-known designers create distinct collections interpreting Moncler's identity that are released on a monthly basis.[39][40][41]

On March 11, 2019, the U.S. investment fund BlackRock acquired a total stake of 5.026% in Moncler's share capital. Remo Ruffini remained the main shareholder with a 19.30% stake, followed by BlackRock,[42] while the Eurazeo fund had fully exited its position.[43][44] That same year, Moncler was included for the first time in the Dow Jones Sustainability Indices (DJSI) World and Europe.[45]

Moncler Group

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In December 2020, Moncler purchased Italian luxury sportswear brand Stone Island for €1.15 billion.[46] In 2020, Moncler launched the "Born to Protect" sustainability plan which features renewable energy, animal welfare, recycling and charitable giving standards.[47] In December 2021 Moncler became the official formalwear partner of Inter Milan.[48]

A Moncler boutique in Vancouver, Canada in January 2016.

Collections

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Moncler offers a wide range of down jackets to the public, generally positioned in the luxury segment, with a market expansion also into the summer season. The brand is present on the market with three collections:[49]

  • Moncler Collection: the main line, featuring outerwear and accessories for women, men, and children.
  • Moncler Grenoble (since 2010): a technical collection offering both ski apparel and après-ski clothing with an urban approach.[50]
  • Moncler Genius (2018): a series of collections created by various designers, each interpreting Moncler’s identity.[39][40][41]

Collaborations

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The following photographers have collaborated with Moncler for institutional campaigns:

Major shareholders

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As of 24 April 2025[60]
Shareholder Stake (% of ordinary shares)
Double R S.r.l. 16.9%
Morgan Stanley 8.6%
Capital Research and Management Company 5.0%
BlackRock Inc. 5.0%
Venezio Investments Pte. Ltd. 4.5%
Treasury Shares 1.2%
Other Shareholders 58.8%

Brand integrity

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To deal with counterfeiting, the company instituted an online code verification system to authenticate purchased products.[61]

See also

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References

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  1. ^ Levine, Joshua (8 October 2018). "How CEO Remo Ruffini Is Reinventing Moncler for a Faster Fashion World". Wall Street Journal. Retrieved 12 October 2018.
  2. ^ a b "2024 GROUP REVENUES OVER EUR 3.1 BILLION, WITH DTC CHANNEL GROWING DOUBLE DIGITS AT BOTH BRANDS" (PDF). Retrieved 16 May 2025.
  3. ^ "Working at Moncler". Archived from the original on 17 November 2022. Retrieved 24 June 2024.
  4. ^ Conway, Megan (November 29, 2011). "Aprés Ski: Moncler Moves Beyond the Jacket". Wall Street Journal. ISSN 0099-9660. Retrieved June 18, 2022.
  5. ^ Sciorilli Borrelli, Silvia (December 17, 2020). "Remo Ruffini shows Moncler is more than just puff with €1bn Stone Island deal". Financial Times. Retrieved June 18, 2022.
  6. ^ Cristoferi, Claudia; Aloisi, Silvia (May 5, 2022). "Moncler bets on store expansion, footwear to drive growth". Reuters. Retrieved June 18, 2022.
  7. ^ Lynch, Jack (April 8, 2020). ""Streetwear Is Very Healthy And Will Continue To Be": An Interview With Moncler's Sergio Zambon". Complex. Retrieved June 18, 2022.
  8. ^ "The adventures of Moncler's feathered mascot Monduck". 13 September 2012. Retrieved 31 May 2019.
  9. ^ "Moncler 2 1952 Fall 2021 Menswear Collection". Vogue. 2021-09-02. Retrieved 2023-12-19.
  10. ^ "Moncler chief Remo Ruffini: the man behind the $1,000 puffa". Financial Times. 18 May 2017. Retrieved 25 March 2019.
  11. ^ "Moncler earning surpass 1 billion dollars". March 2017. Retrieved 25 March 2019.
  12. ^ "How Did Remo Ruffini Turn the Humble Down Jacket into a Multibillion-Dollar Empire?". Retrieved 25 March 2019.
  13. ^ "The secret of Moncler's success". Financial Times. 3 March 2017. Retrieved 25 March 2019.
  14. ^ "Moncler worn on K2 expedition at auction". 15 February 2018. Retrieved 25 March 2019.
  15. ^ "The race to make the warmest winter clothes". 20 February 2019. Retrieved 25 March 2019.
  16. ^ "Moncler's Remo Ruffini: the puff daddy who made the ski jacket a style staple". 24 September 2015. Retrieved 25 March 2019.
  17. ^ a b "Moncler skiwear is put through its paces". Financial Times. 29 November 2013. Retrieved 25 March 2019.
  18. ^ "Peggy Fleming and the 1968 Winter Olympics". The Atlantic. 7 February 2018. Retrieved 25 March 2019.
  19. ^ Sims, Josh (September 13, 2012). "The adventures of Moncler's feathered mascot Monduck". wallpaper.com. Retrieved November 7, 2022.
  20. ^ Now and... Moncler, 1952-2002. Baldini&Castoldi. 2002.
  21. ^ "Happy birthday Moncler". ELLE (in Italian). 2012-11-13. Retrieved 2025-05-16.
  22. ^ "Raduno dei Paninari anni '80: amarcord tra Moncler, Timberland e Invicta". www.ilgazzettino.it (in Italian). 2015-11-22. Retrieved 2025-05-16.
  23. ^ a b "Archivio Corriere della Sera". archivio.corriere.it. Retrieved 2025-05-16.
  24. ^ "Interview: Remo Ruffini, chairman & creative director of The Moncler Group". 9 August 2012. Retrieved 25 March 2019.
  25. ^ Vardi, Nathan. "Remo Ruffini Could Become A Fashion Billionaire Selling $1,000 Puffy Jackets". Forbes. Retrieved 2021-02-08.
  26. ^ "Alessandra Facchinetti lascia Tod's". Il Post (in Italian). 2016-05-06. Retrieved 2025-05-16.
  27. ^ Living, Redazione (2009-07-12). "Il piacere è tutto mio". Living (in Italian). Retrieved 2025-05-16.
  28. ^ Amoroso, Marisa (2008-08-09). "Gianbattista Valli per Monclear collezione A/I 2008/09". Frizzifrizzi (in Italian). Retrieved 2025-05-16.
  29. ^ "Moncler sbarca a Parigi". www.fashionmagazine.it (in Italian). Retrieved 2025-05-16.
  30. ^ "Moncler scende dai monti una "boutique-chalet" a Parigi". Pambianconews notizie e aggiornamenti moda, lusso e made in Italy (in Italian). 2007-10-15. Retrieved 2025-05-16.
  31. ^ IT, FashionNetwork com (2017-11-13). "Moncler chiude le linee Gamme Rouge e Gamme Bleu". FashionNetwork.com (in Italian). Retrieved 2025-05-16.
  32. ^ "Moncler, Gamme Bleu sarà affidata a Thom Browne". Pambianconews notizie e aggiornamenti moda, lusso e made in Italy (in Italian). 2008-09-22. Retrieved 2025-05-16.
  33. ^ Phelps, Nicole (2018-02-20). "Moncler 3 Grenoble Fall 2018 Ready-to-Wear Collection". Vogue. Retrieved 2025-05-16.
  34. ^ a b Martens, Cynthia (12 December 2013). "Moncler Prices Shares for IPO". WWD. Retrieved 12 December 2013.
  35. ^ Bray, Chad (16 December 2013). "Moncler Shares Close Up 47% in Market Debut". New York Times. Retrieved 3 January 2014.
  36. ^ "Moncler shares rise more than 40% on market debut". CNBC. 16 December 2013. Retrieved 25 March 2019.
  37. ^ "Commissione Nazionale per le Società e la Borsa - Sezione Emittenti". web.archive.org. 2016-06-14. Retrieved 2025-05-16.
  38. ^ "Rivoluzione Moncler, entrano Temasek e Torres". la Repubblica (in Italian). 2016-07-28. Retrieved 2025-05-16.
  39. ^ a b "Moncler 5 Craig Green". 20 February 2018. Retrieved 6 February 2019.
  40. ^ a b "Moncler's new collection is genius, literally". Retrieved 6 February 2019.
  41. ^ a b "There's a full-length puffer gown from Moncler for your next freezing cold black tie event". ABC News. Retrieved 6 February 2019.
  42. ^ "AIFI – Associazione Italiana del Private Equity, Venture Capital e Private Debt". www.aifi.it. Retrieved 2025-05-16.
  43. ^ "Moncler tra i peggiori al FTSEMib. Pesa l'uscita di Eurazeo". www.soldionline.it (in Italian). 2019-03-20. Retrieved 2025-05-16.
  44. ^ "AIFI – Associazione Italiana del Private Equity, Venture Capital e Private Debt". www.aifi.it. Retrieved 2025-05-16.
  45. ^ Finanza, MF Milano (2019-09-16). "Moncler entra nel Dow Jones sustainability index | MilanoFinanza News". MF Milano Finanza (in Italian). Retrieved 2025-05-16.
  46. ^ "Moncler Buys Stone Island Sportswear Brand for $1.4 Billion". Bloomberg.com. 2020-12-07. Retrieved 2022-06-19.
  47. ^ Zargani, Luisa (November 13, 2021). "Moncler Tops Dow Jones Sustainability Indices for Third Year in a Row". www.yahoo.com. Retrieved June 18, 2022.
  48. ^ "Inter x Moncler: Fashion and football with Milan at their heart". 6 December 2021.
  49. ^ "Moncler : Season FW 2012". web.archive.org. 2013-01-05. Retrieved 2025-05-16.
  50. ^ "Moncler 3 Grenoble". 20 February 2018. Retrieved 4 June 2019.
  51. ^ Menkes, Suzy (27 September 2011). "A Film About a Jacket — and a Dog". The New York Times. Retrieved 12 February 2019.
  52. ^ "Bruce the Great: Woof!". 17 June 2009. Retrieved 12 February 2019.
  53. ^ "How Wall Street Puffed Up Sales of $800 Down Parkas". Bloomberg News. 9 December 2014. Retrieved 12 February 2019.
  54. ^ "Moncler Gamme Rouge Fall Winter 2014.15 by Steven Meisel". 18 August 2014. Retrieved 15 March 2019.
  55. ^ "Liu Bolin 'Disappears' in an Iceberg for Moncler Fall Ads". 11 July 2017. Retrieved 23 July 2019.
  56. ^ "L'arte mimetica negli scatti di Liu Bolin a Roma". 5 March 2018. Retrieved 23 July 2019.
  57. ^ "Moncler Taps 19 Talents for its Fall 2018 Ad Campaign". 11 July 2018. Retrieved 12 February 2019.
  58. ^ "The Will Smith and Moncler hook-up is genius". 22 July 2019. Retrieved 23 July 2019.
  59. ^ "Moncler introduces the Poldo Dog Couture". nss magazine. Retrieved 2019-11-27.
  60. ^ "Moncler Profile". Retrieved 16 May 2025.
  61. ^ "Moncler". 23 December 2015. Retrieved 7 July 2016.
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