Milan-based Moncler manufactures products under the brands Moncler, Henry Cotton, Marina Yachting and Coast, Weber & Ahaus, and licenses the Cerruti brand.

The deal, subject to regulatory approval, is expected to close by the end of the year.

On announcing the deal, Marco De Benedetti, managing director of The Carlyle Group, said in a statement: “Moncler is a historic, luxury sports garment brand that is, once again, playing a relevant and prestigious role in the market. Starting from today, as shareholders of the company, we will support Moncler with strategic vision and the means necessary to maximise the important global development opportunities for Moncler and the group’s other brands.”

Moncler distributes its products in high-end shops and department stores all over the world.