The CEO of Moncler plays down rumors of a possible Kering takeover
Get the Full StoryChristian Vierig Getty ImagesThe CEO of Moncler addressed speculation of a possible Kering takeover in a statement on Thursday. "At the moment... there is not any concrete hypothesis under consideration," CEO Remo Ruffini said.
Ruffini's comments follow a Bloomberg report, which was published on Wednesday and indicated that senior executives at the two luxury houses held preliminary talks to discuss a deal, according to sources familiar with the matter.
Analysts say Moncler might not be the perfect fit for Kering's portfolio, which is already reliant on clothing labels.
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The chief executive and top shareholder of puffer jacket maker Moncler played down speculation around a takeover by Gucci-owner Kering on Thursday, saying the two firms sometimes talked but that there was no deal in the works.
Shares in the Italian label, which has become a luxury industry darling in recent years after a makeover under CEO Remo Ruffini, surged earlier after Bloomberg reported that it had held exploratory discussions with Kering.See the rest of the story at Business InsiderNOW WATCH: We talked to Kevin Plank right before he stepped down as CEO of Under Armour, and he hinted at why the company may be ready for the changeSee Also:A step-by-step guide to get richer, healthier, and happier in 31 daysThe Obamas reportedly just bought a 12 million home on Martha's Vineyard. They're worth 30 times more than when they entered the White House in 2008 here's how they spend their millions.Here's the presentation Google gives employees on how to spot unconscious bias at workSEE ALSO: Gucci's owner reportedly held talks to buy Moncler in a potential 12 billion deal
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