Moncler to Open Largest Flagship in New York

MILAN — On the heels of announcing a partnership with LVMH Moët Hennessy Louis Vuitton, Moncler on Monday will reveal it plans to open its biggest flagship in the world on New York’s Fifth Avenue.

It is forecast to open in early 2026 — another sign that Moncler Group chairman and chief executive officer Remo Ruffini is thinking long-term.

Last Thursday, Ruffini, who Citi’s Thomas Chauvet described as “King of the Mountain,” revealed he had teamed with Bernard Arnault’s LVMH to increase his stake in Moncler, strengthening his position as its largest shareholder, and further committing to the brand. LVMH purchased a 10 percent stake in Double R, the investment vehicle that is controlled by Ruffini and holds his 15.8 percent stake in Moncler. 

The following day, shares of Moncler Group, which went public in Milan in 2013, soared to close at 57.74 euros, up 10.9 percent, reflecting analysts’ positive perception of the deal.

Luca Solca at Bernstein said the news “will provide further support to the company’s share price” over the next 18 months.

Intermonte analysts underscored the impact that LVMH can have on future scenarios as it has “proved once again it is an investor present on all the most important dossiers and with a very long-term perspective. We are convinced it will make sure Moncler’s team will have the most complete autonomy in managing the company and at the same time it has secured the advantage of being the first to make a move compared with others potentially interested in taking control of the group.”

Equita analysts see “solid long-term prospects” for the group, and touted the strong positioning of the brand, which can guarantee over-performance. They believe it’s “premature to imagine speculative scenarios in the short- and medium-term,” since Ruffini is strongly committed to Moncler.

While Intesa Sanpaolo analysts believe the partnership is aimed at strengthening the position of Double R in Moncler and hence its independence, at the same time, they argue “this could be a first step for LVMH in preparing a future acquisition of the group.”  

Likewise, Mediobanca viewed the deal as providing Moncler with the necessary stability to execute its planned strategy in these uncertain times but wondered “if future changes could take place.”

A market source waved away concerns about a possible LVMH takeover of Moncler. “Ruffini turned a potential hostile party into a clearly friendly one, which understands there is no intention or wish to sell at this stage. If Ruffini does change his mind, they are in pole position, but he doesn’t have to worry about finding another partner to secure the brand for the long-term. And if anyone out there was thinking of a hostile approach, they will think again.”

Growing American Retail

Retail has long been a key focus for Ruffini and Moncler and a way to build the brand’s community, and the New York store will contribute to further develop the American market.

“Since 2007, when we opened our first store in Paris, we have focused on building a direct and personal connection with our consumers offering unparalleled gateways and experiences to discover who we truly are as a brand,” said Ruffini. “In the same way, this new space in New York will serve as a foundation for strengthening our connection with the community, fostering a deeper relationship that goes beyond retail to become an integral part of the city’s vibrant cultural landscape.” 

The New York store will be located in the General Motors building, previously home to the FAO Schwarz toy store until 2015. It then served as a temporary location for Apple during the renovation of their Fifth Avenue flagship, and was subsequently leased to Under Armour, which had planned to build its largest store in the world on the site but scratched the idea when it encountered financial struggles.

The location now will be the largest store in Moncler’s global retail network, spanning more than 21,000 square feet across two expansive floors following extensive renovation. The design concept will be curated by Moncler’s go-to architecture studio, Gilles & Boissier.

“This new flagship represents a significant milestone for Moncler and marks the beginning of an exciting new chapter in New York City,” Ruffini told WWD. “Opening our biggest store worldwide here is not just expanding our presence; it represents a pivotal step toward unlocking the full potential of our brand and reinforcing our commitment to the U.S. market.”

Given the position of the store, the flagship is sure to fuel brand visibility with New Yorkers, but also tourists from around the world since it is not far from Central Park, Bergdorf Goodman and the main luxury shopping areas of Fifth and Madison avenues.

For the store opening, Moncler has created a special-edition T-shirt with the slogan “Ciao NYC” that will be gifted to 100 local New York creatives and artists to celebrate the brand’s new chapter in the city. 

Business in the U.S.

The first Moncler store in the U.S. opened in Aspen in 2008 and the first in New York in SoHo in 2010.
In New York, there are now two directly operated stores, at 99 Prince Street and at 650 Madison Avenue. The brand is also available through concession doors at Bloomingdale’s and Saks, among others.

As of June 30, Moncler operates 45 monobrand boutiques across the Americas, of which 34 are in the U.S.

 In March, Moncler opened a new concession in Bloomingdale’s in Glendale, Los Angeles. 

In June, the brand relocated its Atlanta store to a more prominent location at Lenox Square, and in September, Moncler unveiled a newly relocated boutique at Honolulu’s prestigious Royal Hawaiian Center. 

In October, Moncler will open a store in Boca Raton, Fla. 

During its first-half financial results investor call, Moncler unveiled future plans to further expand its store network by opening an additional location in a resort area in the U.S., complementing existing stores in Aspen and Vail. 

In the first half of 2024, Moncler revenues in the Americas increased by 8 percent to 147.7 million euros, compared to the same period last year, representing 14.2 percent of the total. In the second quarter, revenues in the region were down 1 percent at constant exchange rates, with the positive performance registered in the direct-to-consumer business offset by the decline in the wholesale channel.

Moncler’s management has repeatedly said the U.S. market remains under-penetrated, and it is a major focus for the company in the coming years, representing a long-term growth opportunity.

In the six months ended June 30, revenues of Moncler Group, which includes Stone Island, totaled 1.23 billion euros, up 8 percent compared with last year.