Citi Confirms Buy Rating and Price Target for Moncler SpA
Citi Reaffirms Buy Rating for Moncler SpA
Citi has maintained its Buy rating and set a price target of EUR70.00 for Moncler SpA, a prominent player in the luxury fashion industry. This positive outlook comes at a time of significant developments within the company's structure and shareholder composition.
Recent Acquisitions Impacting Moncler's Position
Recently, LVMH and Ruffini Partecipazioni, which owns a significant stake in Moncler, have made headlines with their strategic moves. LVMH has acquired a 10% interest in Double R, the holding company that operates under Ruffini. This transaction results in LVMH indirectly owning approximately 1.6% of Moncler, further solidifying their involvement in the brand.
Enhancing Ownership Structure
The agreement between these luxury powerhouses outlines a path for Double R to potentially increase its stake in Moncler to 18.5% over the next three years. This increase is anticipated through further share acquisitions in the market over the next 18 months, which could result in LVMH gaining up to a 22% stake in Double R and, by extension, around 4% of Moncler.
Implications for Mr. Ruffini's Stake
As this partnership evolves, Mr. Ruffini is expected to maintain a 78% shareholding in Double R, which will translate to approximately 14.5% ownership of Moncler. This slight adjustment from his original 15.8% stake demonstrates a reshaping of the ownership landscape while still retaining a substantial influence over the brand.
Long-Term Strategic Goals for Moncler
Mr. Ruffini has expressed that these developments enhance Double R's position within Moncler, allowing the leadership to pursue a comprehensive long-term strategy for the brand. This strategic commitment is further endorsed by LVMH’s Chairman, who supports Moncler's autonomy in the competitive luxury market.
Strengthening Market Position
This collaboration is indicative of a broader strategy aimed at bolstering Moncler's presence within the luxury sector. Both LVMH and Ruffini share a vision focused on sustaining Moncler's heritage while driving growth potential. This synergy is expected to reinforce Moncler's market status, aligning with the aspirations of its leaders and stakeholders.
A Bright Future for Moncler SpA
As the luxury market evolves, Moncler stands poised to navigate the complexities and opportunities presented. With the backing of influential partners like LVMH, alongside the leadership of Mr. Ruffini, the future looks promising for Moncler SpA. The unwavering confidence from Citi encapsulates a belief in the brand's resilience and growth potential in the ever-competitive luxury industry.
Frequently Asked Questions
What is Citi's rating on Moncler SpA?
Citi has reaffirmed a Buy rating on Moncler SpA with a price target of EUR70.00.
Who are the major shareholders of Moncler?
The major shareholders include LVMH and Ruffini Partecipazioni, with Ruffini holding a majority stake in Double R.
How much of Moncler does LVMH currently own?
LVMH has acquired a 10% interest in Double R, which translates to approximately 1.6% ownership of Moncler.
What are the future prospects for Moncler SpA?
Moncler is set to strengthen its market position through strategic partnerships and a long-term vision led by Mr. Ruffini and supported by LVMH.
Will Moncler remain independent?
Yes, LVMH’s Chairman supports Moncler's independence, which is part of its long-term operational strategy.
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