Remo Ruffini has found a new partner in Bernard Arnault's LVMH Moët Hennessy Louis Vuitton. Ruffini teamed with LVMH on Thursday, forging a deal that will help him strengthen his position as Moncler's largest shareholder.

The French giant enters the capital of Moncler by acquiring 10% of Double R, the investment vehicle of Remo Ruffini, with the aim of reaching 22%. In the next 18 months, Double R could reach 18,5% of

The French luxury conglomerate has acquired a 10 per cent stake in Ruffini’s investment vehicle, Double R, which owns a direct stake in the luxury outerwear brand.

LVMH has purchased a 10 percent stake in Double R, the investment vehicle controlled by Ruffini Partecipazioni Holding that owns a direct stake in Moncler.

The Moncler share price very volatile this morning. It seems this might have been something of a surprise to a number of people. I mean, does it make sense to you this takin

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 has struck a deal with the chief executive of Moncler to take an up to 22 per cent stake in the investment vehicle that controls the Italian luxury outerwear specialist. Bernard Arnault’s group has bought a 10 per cent stake in Double R,

Shares in Moncler were indicated to open sharply higher on Friday after LVMH invested in the Italian outerwear specialist, getting one seat on its board.

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.