French luxury heavyweight LVMH is investing in Moncler in a transaction that gives LVMH a seat on the board of the Italian fashion company, best known for its pricey puffer jackets.

LVMH is investing in designer outerwear label Moncler SpA in a deal that will give the French luxury conglomerate a seat on the Italian company’s board.LVMH Moët Hennessy Louis Vuitton SE is buying a 10% stake in Double R,

Diego Della Valle, chief executive of Tod’s, struck a deal with LVMH to take a minority stake in the company in 2021. It was delisted from the Milan stock exchange this year in a deal with LVMH-backed private equity firm L Catterton. LVMH owns more than 75 brands, including Louis Vuitton and Dior.