This Week’s Wow: Moncler’s Public Offering Is a Hit With InvestorsDec 20, 2013 @ 7:18 am
In this new weekly feature, InStyle’s Fashion News Director Eric Wilson shares his favorite fashion moment of the week, and explains how it could shape styles to come. Look for it on What’s Right Now every Friday.
The Moment: Moncler, the Italian luxury outerwear company famous for making puffy down jackets that actually don’t make people look like stacked doughnuts, went public on Milan’s stock exchange Monday in a successful offering that saw its shares rise 47 percent by the end of the day (closing above $20). Moncler, founded as a French skiwear label 60 years ago, has been the hot label in coats for the last several years. The company now collaborates with several designers including Thom Browne, Giambattista Valli, Mary Katrantzou and, recently, Pharrell Williams.
To celebrate the occasion of its market debut, Moncler hired 50 models to stand in black ski jackets at the stock exchange, along with its chief executive, Remo Ruffini, under a shower of white confetti.
Why It’s a Wow: For the first time since the late 1990s, IPOs are back in style for fashion companies. More than a few brand-empires in the making, including Diane von Furstenberg and Tory Burch, have had investors sniffing around in the wake of the wildly successful offering of Michael Kors two years ago. Moncler’s strong debut (it has since been fairly steady), along with that of the American sportswear label Vince in November, suggest that investors see even more potential in fashion. (When Marc Jacobs left Louis Vuitton in October to concentrate on his own brands, he announced his plan to focus on a public offering in a few years.)