On the brink of a snowy New York Fashion Week and an even snowier Winter Olympics, the Franco-Italian outerwear giant took over the Colorado ski town to stage the season’s biggest runway show yet.

Moncler opened its first U.S. store in Aspen in 2008, so it makes sense that almost two decades later it would introduce its first Grenoble flagship across the street. Grenoble is Moncler's ...