In 2011, Carlyle is considering an exit from its investment in the European fashion brand Moncler, in which it holds a minority stake. The case focuses on the complexities of preparing and executing an exit under rapidly changing market conditions taking varied interests and potential outcomes into consideration.

This case series of a failed startup in the financial services market illustrates three of the key issues in launching a new business - the role of a strong and cohesive founding team, the problem of lack of credibility faced by new ventures, and the importance of developing elements of novelty or innovation in the proposed business model.