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,

By Mimosa Spencer and Anna Pruchnicka PARIS (Reuters) -Shares in Moncler rose sharply on Friday after French rival LVMH invested in the Italian outerwear specialist, fuelling speculation about the long-term intentions of the owner of Louis Vuitton and Moet & Chandon champagne.

LVMH has a seat on the board of Moncler, an outdoor brand largely known for its ski jackets. The French fashion conglomerate acquired a 10% stake in the investment vehicle Double R, which is a partial owner of Moncler.