Moncler says it has sold sportswear division

Luxury down jacket maker Moncler has sold its sportswear division to a company controlled by private equity fund Emerisque Brands, it said on Friday without giving financial details of the transaction.

A statement from Moncler said that its shareholders had also acquired a 30 percent stake in Cavaliere Brands, the company to which it sold the sportswear business.

The sportswear division, including brands such as Marina Yachting and Henry Cotton's, had turnover of 135 million at the end of 2012, said Moncler, which is in the process of listing on the Milan stock exchange.