THE NUMBERS GAME This guy

This guy bankrupt company Today $16 BILLION selling $1,000 puffer jacket company for pennies. Today it's worth $16 billion selling $1,000 puffer jackets to the rich. Meet Remo Ruffini. Born in Como, Italy into a family of clothing entrepreneurs, Ruffini learned fashion by 23, he was building clothing brands of his own. Then came the better part of his life. In 2003, Ruffini bought 52% of Moncler, a struggling brand founded in the French Alps in 1952. Now nearly bankrupt, Ruffini didn't try to save Moncler. He reinvented it. First move, positioning. He pulled Moncler out of ski shops and onto fashion runways. Then pricing. What used to be a $100 functional jacket became a $1,000 fashion statement. Next, credibility. He collaborated with top designers, turning technical outerwear into couture. Marketing was unconventional, no big budgets. Flash mobs in puffer jackets, celebrities followed. Demand exploded. In 2013, Ruffini took Moncler public. Sales had jumped from $45 million to nearly $500 million. IPO valuation €2.5 billion. Today, revenue is €3 billion a year. 84% of sales are direct to consumer. Moncler sells everything from footwear to fragrance. Ruffini? He still owns 24% of the company. Net worth $3.6 billion.