Want to get rich? Invest in things that rich people buy—including $3,000 ski jackets.
Moncler, the Milan-based maker of stylish puffy jackets that retail for between $1,000 and about $3,000, is about to go public on the Milan Stock Exchange. Its sales growth has been so strong that investors are pouring into the stock offering.
Reports suggest the shares are 20 times subscribed and are likely to price at the top of the projected range. Moncler is selling a 27 percent stake, or 66.8 million shares, and the sale could raise more than $1 billion and value the company at more than $3 billion.
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The big winners will be the company's investors who bought big stakes in Moncler in 2011. Eurazeo, the French private equity firm, bought a 45 percent stake in 2011 for 418 million euros ($576 million). Carlyle Group owns another 17.8 percent and Brands Partners owns 5 percent.