Italian luxury apparel group Moncler has announced the sale of its division Industries Sportswear Company (ISC) to Cavaliere Brands (Italia), a company indirectly controlled by Emerisque Brands UK Ltd.

The value of the transaction has not been disclosed.

ISC comprises the Marina Yachting, Henry Cotton's and Coast Weber & Ahaus brands, as well as the licence 18CRR81 Cerruti.

Moncler did not comment on the reasons for the sale of ICS which last year posted a turnover of EUR135m (US$181.3m).

Immediately after the completion of the transaction, a special-purpose financial vehicle owned by Moncler's shareholders subscribed to a capital increase in
Cavaliere Brands (Italia) and acquired a 30% stake in its share capital.
 
French investment company Eurazeo is Moncler's biggest shareholder with a 45% stake.
 
Last month, just-style reported that Moncler, best known for its iconic down jackets,  was poised to make its entry on the stock market. Pre-marketing of the IPO began yesterday (11 November) and around 30% of the company's capital could be floated, according to sources close to the operation.