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Moncler to acquire Stone Island

By Huw Hughes

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Business

Italian luxury label Moncler has announced it is to acquire fellow Italian brand Stone Island in a deal that values the latter at 1.15 billion euros.

Remo Ruffini, chairman and CEO of Moncler, said the partnership will “offer to new generations a new concept of luxury, far from the traditional stereotypes in which young people no longer recognize themselves”.

Moncler said it will share its knowledge and experience with Stone Island to fully capture the important growth potential in particular of the Americas and Asian markets as well as in the DTC (Direct to Consumer) channel.

Sustainability will also be a key focus for the two companies moving forward. Moncler has ranked as Industry Leader of the ‘Textile, Apparel & Luxury Goods’ sector in the Dow Jones Sustainability Indices World and Europe for two consecutive years.

Stone Island acquired by Moncler

“We’re coming together at a challenging moment both for Italy and the world, when everything seems uncertain and unpredictable. But I believe it is precisely in these moments that we need new energy and new inspiration to build our tomorrow,” said Ruffini.

“This is a union of two Italian brands with the same values, the same management rigor, the same passion for innovation, the same love for their people and the same desire for the future. It’s the celebration of the resilience of a country that no crisis can stop.”

Carlo Rivetti, Chairman and CEO of Stone Island, added: “This is a partnership that represents a great opportunity for the continued development of both companies and which will help Stone Island accelerate its international growth thanks to Moncler’s experience in both the physical and digital retail world.

“This is also an opportunity to share and grow for all the people of Moncler and Stone Island with whose contribution we will continue to write, together, a story of ingenuity, creativity and professionalism to honor Italy in the wider world.”

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Photo credit: Moncler

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Stone Island