Gucci owner Kering may bid for Moncler: report

It's known for puffer jackets with sky-high price tags.

Now Moncler might be about to fetch a pretty price itself.

French luxury conglomerate Kering, owner of Gucci and other brands, could be about to make a bid.

That's according to reports late Wednesday (December 4) by Bloomberg.

The news sent Moncler shares up as much as 11 percent early Thursday (December 5).

A takeover would be just the latest consolidation in the luxury sector.

Last month Louis Vuitton owner LVMH agreed to buy jeweler Tiffany for 16 billion dollars.

Talk of further bids lifted the whole sector on Thursday, with Burberry and Ferragamo among the gainers.

Moncler has been one of the industry's big success stories in recent years.

It's boomed since a buyout by Italian entrepreneur Remo Ruffini in 2003.

A fashion for high-end streetwear has helped it sell quilted jackets for over $1,000 apiece.

After listing on the Milan stock market six years ago, it's now valued at around 11 billion dollars.