Arnault, Burberry and the generational transition. Remo Ruffini, CEO of Moncler, explains how the alliance with the LVMH boss came about and how he never thought about taking over Burberry. Not only that, he isn’t even thinking about new acquisitions to form an Italian luxury hub.
Why he says yes to LVMH
The tactic Bernard Arnault uses when he sees interesting realities is now well known. He approaches the owner and utters a phrase like, “If one day you need help, I will be there”. He did it with Tod’s, but also with Richemont and he did it again with Moncler. “He always told me, ‘If you need me, I’m there”, Ruffini confirms in an interview with WWD talking about Arnault. So, at the moment when two longtime shareholders of Moncler decided to sell their shares, Ruffini called Arnault and asked him if he was interested in investing. “He really gave me a hand. I feel much more comfortable having him in the holding company. He gives me peace of mind. He has shown great confidence in me, my family and the company. We hope not to disappoint him”, Ruffini said.
Burberry? Never crossed his mind
The Italian entrepreneur has put to rest, perhaps once and for all, speculation about a possible acquisition of Burberry by the Moncler group, which was revived several times in the British press. Ruffini met the British brand’s CEO Josh Schulman at the Fashion Awards and embraced it. “I told him that the idea of buying Burberry never even crossed my mind. It never existed”, Ruffini reported.
Ruffini’s dream
Ruffini also stated that he has no plans for new acquisitions. Just as he has no ambition to turn Moncler into an Italian luxury hub. “My dream is not to buy Burberry or to create a big group-that’s not what people expect. My dream is that my two sons (Pietro and Romeo, ed.), together, can be a big force in this world. The rest, to be honest, doesn’t excite me that much”.
Read also:
- In the third quarter, even Moncler succumbs to the 2024 curse
- LVMH entering Moncler shows Arnault’s wish to have a hand in Italy
