The Rivetti family, which had sold Stone Island to the Moncler group in 2021, has withdrawn from the Double R holding company, which owned part of the luxury group. In return, however, they have become direct shareholders in the luxury down jacket specialist. The news was greeted coolly by the stock market.
The cards have been reshuffled in Moncler’s shareholding structure.
On Saturday February 24, the luxury down jacket manufacturer announced that the Rivetti family was to become its direct rather than indirect shareholder.
Grinta Srl, the Rivetti family’s investment vehicle, has notified its withdrawal from Double R, the holding company of Moncler CEO Remo Ruffini, which itself held 23.7% of Moncler shares.
In 2021, when Moncler acquired Stone Island three years ago from the Rivetti family, the latter obtained 16.5% of Double R’s shares.
This will soon be a thing of the past, as Double R is due to sell a number of Moncler ordinary shares to Grinta.
The same approach for Singapore’s Temasek
Back in January, Singapore’s sovereign wealth fund Temasek took a similar step, withdrawing from Double R to become a direct shareholder in the Italian fashion house.
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Featured Photo: © Moncler
