ESL vigorously disputes the accusations, according to a statement, going as far as calling them “baseless allegations and fanciful claims.”
The image-sharing platform is now valued at $12.7 billion, but the offering could also point to a top in the market.
Pricy watches helped offset the ongoing decline of cheaper timepieces.
Overall turnover at the consumer giant rose 3.1 percent to 12.4 billion euros on an underlying basis.
As per the Boston Consulting Group True-Luxury Global Consumer Insight presented at the Altagamma Consumer and Retail Insight conference held on Wednesday in Milan, 425 million luxury goods consumers spent around 920 billion euros in 2018.
Sequential Brands has owned the businesses since 2015 when they were purchased for $353 million.
Moncler SpA shareholders on Tuesday approved a gross dividend of 0.40 euros per share, for a total amount of more than 99.8 million euros to be paid on May 22.
The 2012 spin-off is not doing well.