The puffy-coat billionaire's IPO soars
Moncler's pricey down coats are beloved by the wealthy. And Monday, the company's stock was a winner as well.
On Monday, investors sought to get a piece of another expensive Moncler offering, bidding up the shares of the company by more than 40% from their IPO price.
His 32% stake in Moncler is now valued at about $1.6 billion. It's one of Italy's biggest IPOs in years.
Private-equity firm Bain Capital this month announced it was buying a big stake in Canada Goose, which, like Moncler, sells luxury winter apparel. But the Italians rule this world and Ruffini is joining seven other Italian billionaires as the richest people in the fashion business.
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didn't he try and sell these on Seinfeld
"But I don't want to look like a pirate"
Seinfeld, was pushing the puffy, frilly shirts against his will for Krazy Kramer and a gfriend...
But remember George in a/the puffy coat, where he looked like the Pillsbury Doughboy..
Or maybe the Michelin Guy...?
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Consumers are very status conscious in Asia, Africa and other emerging-market areas. This is especially true in China.
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