The chief executive of Moncler said on Thursday that he did not expect consolidation in the Italian fashion market due to a deep history of family ownership of companies, but indicated that he was not constrained by this culture. In a European luxury goods industry dominated by French conglomerates LVMH and Kering, Italian players – most of them family-owned and run – are under pressure from investors to consolidate into larger groups, with fashion brand Moncler often seen by analysts as a possible target. “I do not see consolidation in Italy,” Moncler CEO Remo Ruffini said at an online conference on fashion hosted by publisher RCS.
