Moncler Has Unexpectedly Acquired Stone Island
The deal is reported to be a €1.15 billion EUR (approximately $1.39 billion USD) cash sale for 100 percent of Stone Island’s shares paid in cash to be incorporated into Moncler in development of a new shared vision of luxury. Together embracing experientiality, inclusivity, while fostering a sense of belonging to a community that mixes the diverse meanings and worlds of art, culture, music and sport.
With the partnership, the Italian names will look to strengthen their ability to interpret evolving cultural codes for new generations while continuing to reinforce their position in an emerging segment of luxury.
Remo Ruffini, Chairman and CEO of Moncler S.p.A. and Carlo Rivetti, Chairman and CEO of Stone Island are looking to strengthen the competitiveness of Moncler and Stone Island while respecting the identity and autonomy of accelerating the development of both companies.
Aside from sharing its knowledge and experience of capturing the important growth potential in particular of the Americas and Asian markets as well as the Direct to Consumer channel, Moncler will be introducing Stone Island to its culture of sustainability that has made it an Industry Leader of the Textile, Apparel & Luxury Goods sector in the Dow Jones Sustainability Indices World and Europe for the second consecutive year. Both brands will be consolidating their technical product know-how, entrepreneurial, managerial and creative cultures in a shared outlook of Ruffini and Rivetti’s vision of the future.