Moncler has finally confirmed that it would float a portion of its shares on the stock exchange, probably by the end of the year. The initial public offering that has been rumored since 2011 is set to value the company at 2 million.

Chairman and creative director Remo Ruffini would cling to his 32 percent stake, WWD reports and around 25 to 30 percent would be listed.

Moncler-which has almost 100 directly operated stores worldwide-would be the first luxury group to go public since Cucinelli in April 2012 and Prada and Ferrangamo in 2011. Micheal Kors launched the world’s biggest ever public offering in Fashion the same year, which saw his company valued at almost $4 billion. Versace and Marni have also both been subject to IPO rumors in recent months, but no confirmation has yet been made of either-Marc Jacobs left his role at Louis Viutton earlier this month to focus on his own label ahead of its IPO.