Gucci owner Kering holds exploratory talks to buy Moncler – Bloomberg

Kering SA, the parent company of Gucci and Balenciaga, has held exploratory talks with Moncler SpA about a deal to buy the Italian apparel company, Bloomberg reported on Wednesday, citing people with knowledge of the matter.

Moncler had a market valuation of about 9.8 billion euros ($10.80 billion) as of Wednesday’s close on the Milan Stock Exchange.

The talks held were preliminary and there is no certainty it would lead to a deal, the report said.

Kering declined to comment, while Moncler did not immediately respond to Reuters request for comment. ($1 = 0.9073 euros) (Reporting by Praveen Paramasivam in Bengaluru; Editing by Shailesh Kuber)