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LVMH MO╦T HENNESSY LOUIS VUITTON SE

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Moncler CEO: I don't see consolidation in Italian fashion market

05/27/2021 | 07:54am EDT
FILE PHOTO: Milan Fashion Week Autumn/Winter 2020

ROME (Reuters) - The chief executive of Moncler said on Thursday that he did not expect consolidation in the Italian fashion market due to a deep history of family ownership of companies, but indicated that he was not constrained by this culture.

In a European luxury goods industry dominated by French conglomerates LVMH and Kering, Italian players - most of them family-owned and run - are under pressure from investors to consolidate into larger groups, with fashion brand Moncler often seen by analysts as a possible target.

"I do not see consolidation in Italy," Moncler CEO Remo Ruffini said at an online conference on fashion hosted by publisher RCS.

"In Italy everyone wants to hold the majority, and I understand this, most companies have a long history, four, five generations long and it's hard to let go," he added. "It's cultural."

However Ruffini said that he was "not bothered by stakes" and preferred to focus on the profitability of his company.

"I want to create a strong group with a strong profitability and I am open to any solution that follows this logic," he added, without elaborating.

(Reporting by Giulia Segreti; Editing by Pravin Char)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
KERING -0.04% 747.3 Real-time Quote.25.77%
LVMH MOËT HENNESSY LOUIS VUITTON SE -0.09% 673.4 Real-time Quote.31.92%
MONCLER S.P.A. 0.57% 59.94 Delayed Quote.18.87%
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Financials
Sales 2021 60 081 M 70 914 M 70 914 M
Net income 2021 9 142 M 10 791 M 10 791 M
Net Debt 2021 13 307 M 15 706 M 15 706 M
P/E ratio 2021 37,5x
Yield 2021 1,13%
Capitalization 339 B 401 B 401 B
EV / Sales 2021 5,87x
EV / Sales 2022 5,25x
Nbr of Employees 148 343
Free-Float 52,2%
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Technical analysis trends LVMH MO╦T HENNESSY LOUIS VUITTON SE
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 30
Last Close Price 673,40 €
Average target price 682,98 €
Spread / Average Target 1,42%
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Managers and Directors
Bernard Arnault Chairman & Chief Executive Officer
Antonio Federico Belloni Group Managing Director & Director
Jean-Jacques Guiony Chief Financial Officer
Charles de Croisset Independent Director
Diego della Valle Independent Director
Sector and Competitors
1st jan.Capi. (M$)
LVMH MOËT HENNESSY LOUIS VUITTON SE31.92%405 380
LULULEMON ATHLETICA INC.15.73%47 336
V.F. CORPORATION-2.73%32 518
LI NING COMPANY LIMITED55.07%26 379
MONCLER S.P.A.18.87%18 481
LEVI STRAUSS & CO.32.52%10 958