About private equity

How private equity invests in privately-owned businesses, supports jobs and creates prosperity.


Login to access your exclusive member-only content and account information.


Not a member? Join us

  • Operate to the highest level of professional standards
  • Access authoritative industry research and data
  • Navigate the complex EU regulatory environment
  • Network and engage with industry leaders
Private equity in action - Case Study


Back to results
Country Italy
Region Lombardia
Investor The Carlyle Group

Moncler is a global luxury outerwear and sportswear brand. The aim of The Carlyle Group’s investment in Moncler in October 2008 was to evolve a name already iconic in some European countries into a global brand. Carlyle’s global footprint and retail investment expertise assisted management in accelerating the expansion of the Moncler brand’s international presence.

The strategy focused on new store openings and the direct management of strategic markets and distribution channels. Since Carlyle’s acquisition through 31 December 2013, it has opened 129 new Moncler monobrand stores bringing the number of stores to 135.

Marco de Benedetti

Managing Director and Co-head

Carlyle Europe Buyout

It has been very rewarding to see the revival and international growth of the Moncler brand and Carlyle is proud to have been a key part of it. Quotation Marks Graphic

flagship stores as of December 31, 2011


sales increase between 2008 and 2011

What did the business need?

  • To evolve an iconic product in some countries to a global brand

How did private equity backing create lasting value?

  • Growing the retail network from 5 to 135 stores
  • Strengthened the management team by hiring several new senior executives
  • Bought the Moncler children’s line license through joint venture with the previous license
  • Consolidated Moncler brand presence in the Japanese market, a key market for the Company, by converting the distribution agreements into joint venture agreements
  • Open flagship stores in Asia, Europe and US and ecommerce platforms

What outcomes did private equity investment achieve?

  • Moncler has about 1,100 employees
  • Increased direct retail sales from 13% of total sales in 2008 to nearly 58% in 2013
  • Moncler increased sales in Europe (excluding Italy), Asia and North America by 146%, 564% and 340%, respectively between 2008 and 2011
  • On 1 September 2011, Moncler began commercial online trading in the US, Europe and China
  • In December 2013, Moncler completed its initial public offering on the Milan stock exchange at the top of the price range. Carlyle sold its final stake in June 2014.

More information


The Carlyle Group


What can I do to manage cookies stored on my computer or phone?

You can accept or refuse cookies. Accepting cookies is usually the best way to make sure you get the best from a website.

Most PCs automatically accept them but you can change your browser settings to restrict, block or delete cookies if you want. Each browser is different, so check the 'Help' menu of your particular browser (or your mobile phone's handset manual) to learn how to change your cookie preferences. Many browsers have universal privacy settings for you to choose from.

Help on how to set and customise your cookie settings for your browser

How to manage cookies in Internet Explorer

Cookie settings in most versions of Internet Explorer can be found by clicking the tools option and then the privacy tab.

How to manage cookies in Firefox

Cookie settings in Firefox are managed in the Options window's Privacy panel. See Options window - Privacy Panel for information on these settings.

How to manage cookies in Chrome

Click on the spanner icon on the toolbar, select settings, click the under the bonnet tab, click on content settings in the privacy section.

How to manage cookies in Opera 

You can manage cookies in Opera if you Click on settings, then Preferences, then Advanced and finally Cookies

How to manage cookies in Safari

Choose Safari, then preferences and then click security. You should then be able to specify if and when Safari should accept cookies.

To manage cookies on your mobile phone please consult your manual or handbook.

Get more help about how cookies work with specific browsers.

What happens if I don't accept cookies?

If you decline cookies, some aspects of Invest Europe site may not work on your computer or mobile phone and you may not be able to access areas you want on the website. For this reason we recommend that you accept cookies.

What happens if I delete my cookies?

If you delete all your cookies you will have to update your preferences with us again and some aspects of our site may not work.

What happens if I change computers or mobile?

If you use a different device, computer profile or browser you will have to tell us your preferences again.

If you'd like to learn more about cookies in general and how to manage them, visit aboutcookies.org.

We can't be responsible for the content of external websites.

Opt-out of cookies


Join today

This is for members only. To view in full login or join Invest Europe today.