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Luxury coat brand Moncler readies $1.1 billion flotation
December 02, 2013
0 Comments Goose down jacket maker Moncler is seeking to raise as much as 785 million euros ($1.06 billion) in what will be the biggest flotation in the European luxury sector since Salvatore Ferragamo more than two years ago. The Italian company, which started life as a ski jacket maker in the French Alps in 1952, is one of most striking brand revival success stories of the luxury industry in recent years.
moncler moncler boots It is hoping to attract investors with solid growth prospects based on global expansion plans and consumers' strong appetite for chic outdoor wear.
moncler outlet moncler outlet online Moncler recently diversified into sunglasses and knitwear, but makes around 85 percent of revenue from its goose down jackets that cost 800-1,000 euros ($1,100-$1,300).
cheap moncler vest moncler outlet store In the nine months to September 30, sales were up 17.5 percent at 389 million euros, up 22 percent at constant exchange rates.
The size of the offering, which will be at least 585-681 million euros, could rise by as much as 15 percent to 672-785 million if the greenshoe option is exercised, terms sheets seen by Reuters showed.
On the basis of the company's 8.75-10.2 euro-a-share indicative price range, Moncler's market capitalisation could be from 2.2 billion to more than 2.55 billion euros.
In relative terms, the indicative price range values Moncler at 10-12 times expected 2014 earnings before interest, tax, depreciation and amortisation (EBITDA). Gucci and Yves Saint Laurent owner Kering trade on just over 10 times.
Copyright Reuters, 2013 Published under arrangements with Reuters.No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium. Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence.')" onMouseOut="popop(event,'tip1')" style="cursor:pointer"> Copyright Reuters, 2013 cheap moncler coats
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