Italian luxury brand Moncler has officially acquired the remaining 30% stake of Sportswear Company S.p.A. (SPW), the parent group of Stone Island. The acquisition was made from Venezio Investments, a subsidiary of Temasek Holdings, and is valued at €345 million. This purchase completes Moncler’s acquisition of Stone Island, as it previously acquired a 70% stake in SPW in December 2020.
The deal, estimated at €1.15 billion, is set to close on March 31, 2021. Moncler has called for an extraordinary shareholder meeting on March 25, during which a proposed capital increase reserved for Temasek and the Rivetti shareholders will be voted upon. As part of the deal, the Rivetti shareholders and Temasek will subscribe to an amount equal to 50% of the consideration, with the Rivetti shareholders receiving 10.7 million shares and Temasek receiving 4.6 million shares.
In a strategic move, Ruffini Partecipazioni Holding, owned by Moncler CEO Remo Ruffini, has established an agreement with the Rivetti shareholders and Temasek. Under this agreement, the newly issued Moncler shares will be transferred to the holding company, which already owns a 22.5% stake in Moncler. This arrangement aims to support the integration of the two companies.
The acquisition of Stone Island by Moncler aims to develop a new luxury vision that appeals to new generations of customers. Stone Island is expected to benefit from Moncler’s support in expanding its presence in key markets in Asia and the Americas, as well as enhancing its direct-to-consumer capabilities.
With the completion of this acquisition, Moncler solidifies its position as a leading player in the luxury outerwear market. By fully integrating Stone Island into its portfolio, Moncler aims to leverage the strengths of both brands and create a unique luxury offering that appeals to a broader customer base. This acquisition positions Moncler for future growth and success in the constantly evolving luxury fashion industry.
Useful links:
– Moncler Official Website
– Stone Island Official Website
