February 27, 2018 / 11:39 AM / 3 months ago

Moncler Chairman says no plans for M&A operations at the moment

MILAN, Feb 27 (Reuters) - Moncler Chairman and Chief Executive Remo Ruffini ruled out on Tuesday that the Italian high-end outerwear group would be an “aggregator” in the luxury industry in the near future.

“I don’t know what other companies could be part of the group ... it is not in our plans today,” Ruffini said, answering a question from an analyst at the group’s Capital Market Day in Milan.

He added that the group had a lot of things to do since launching a new product strategy dubbed “Genius”.

“I feel I want to be concentrated on the future and don’t see opportunities at the moment,” he said, though he added he remained open to potential future tie-ups. (Reporting by Giulia Segreti Editing by Isla Binnie)

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