// Kering in talks to acquire Moncler, reports Bloomberg
// Moncler had a market valuation of about €9.8 billion ($10.80 billion) as of Wednesday
// Kering is the owner of luxury retailers Gucci, Balenciaga, Yves Saint Laurent, Bottega Veneta & Mont Blanc
Kering, the parent company of Gucci and Balenciaga, has reportedly held talks with Moncler about a possible acquisition deal.
The news, first reported in Bloomberg, prompted shares in Moncler to surge by as much as 12 per cent this morning.
- Kering names new diversity & inclusion chief
- Moncler crowned industry leader in Dow Jones Sustainability Index
- Kering revenue smashes £6bn despite slowdown in Gucci sales
Moncler is listed on the Milan stock exchange, where it had a market valuation of about €9.8 billion ($10.80 billion) when it closed yesterday.
Bloomberg reported that Kering’s talks with Moncler were in an “exploratory” and preliminary phase, and that there was no certainty it would lead to a deal.
Neither Kering nor Moncler have commented on the matter.
Buying Moncler would help Kering keep pace with longtime rival LVMH, the parent company of Louis Vuitton and Dior that recently acquired Tiffany & Co for a whopping €14.7 billion (£12.6 billion).
Other luxury retailers that fall under the Kering family include Yves Saint Laurent, Bottega Veneta & Mont Blanc.