Italian luxury brand Moncler plans £2bn float

Moncler, the Italian luxury brand known for its goosedown puffer jackets, has announced plans to raise up to €785m (£655m) as it floats on the Milan stock exchange.

The Italian company, founded in 1952, has set a price range of €8.75-€10.20, which could value it at more than €2.5bn (£2.08bn). The price makes it the biggest float in the European luxury sector since Ferragamo two years ago.

The company, whose jackets sell for €800-€1,000, is part-owned by the private equity firms Carlyle and Eurazeo.