Shares in luxury puffer coat maker Moncler surged over 11% on Thursday, after a ...
) last month, and talk of further bid activity in the luxury industry led to a broader sector rally, with shares in Britain’s Burberry and Italy’s Salvatore Ferragamo also rising.
The label - worth over 10 billion euros on the stock market, and which derives its name from Monestier-de-Clermont, a mountain village near Grenoble in France - gave its jackets, which sell for more than $1,000, a more fashionable twist. But analysts and industry insiders have sometimes questioned whether its model, which is more heavily reliant on a single product than most rivals, is sustainable in the long run.
The businessman, who owns over 22% in the group, had exploratory contacts with Kering about a potential deal around the time of its flotation, a source familiar with the matter said.
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