Italian luxury group Moncler has announced its acquisition of luxury sportswear brand Stone Island in a deal worth around 1.15 billion euros. The acquisition will take place in two phases, with Moncler initially purchasing 50.10% of the company from CEO Carlo Rivetti, followed by the acquisition of the remaining 19.90% held by the Rivetti family. The final 30% stake, currently held by Temasek Holdings, will be acquired at a later stage.
Despite the acquisition, both Moncler and Stone Island will continue to operate independently. However, Moncler has set its sights on doubling Stone Island’s sales, as the brand is considered a major competitor in the technical clothing and prestigious activewear segment, which has experienced significant growth in 2020. Stone Island currently operates 24 stores worldwide, but its presence in the United States and Asia is limited. Therefore, expanding into these markets is a top priority for the brand.
The transaction is expected to be finalized by June 2021. This acquisition further solidifies Moncler’s position as a leading luxury sportswear group and reinforces their strategic focus on expanding their brand portfolio with well-established and renowned names in the industry.
Useful Links:
1. Moncler Official Website
2. Stone Island Official Website
