After the surprise announcement late
Thursday that LVMH has acquired a 10% stake in Remo Ruffini's
holding company that controls 15.8% of Moncler, the Italian
luxury outerwear label's shares soared 11.8% to 52.88 euros in
early trading in Milan Friday.
Shares of Bernard Arnault's French luxury giant also climbed
3.3% to 698.7 euros in Paris.
Under the deal, LVMH can gain a stake of up to 22% in the
investment vehicle that controls Moncler, Double R.
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