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.
Catch comments from Remo Ruffini and Carlo Rivetti regarding Stone Island joining Moncler below.
I have always worked to build a strong brand where uniqueness and closeness to the consumer have been the cornerstones of a development always beyond trends and conventions.
Sharing the same vision leads us today to joining forces with Stone Island to write our future together.
Led by an entrepreneur of high renown, Stone Island is a great success story, a company that has built an exceptionally strong relationship with its community, offering a highly distinctive product, as a result of unique technical skills and an absolute clarity in its positioning. It is a story of Italian excellence.
Moncler, together with Stone Island, will offer to new generations a new concept of luxury, far from the traditional stereotypes in which young people no longer recognize themselves. We believe in an open and engaged universe, which thrives on community, experiences and cultural exchanges, where communication is always interaction and where the aspirational goes beyond possession to become “being part of” and “belonging.”
We’re coming together – continues Remo Ruffini – 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.
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.
Remo and I have decided to combine forces and visions to meet together and with greater strength than ever the challenges we all face. We share the same roots, similar entrepreneurial journeys and the utmost respect for the profound values of our brands and our people. And we are Italians.
And so, begins a new chapter for Stone Island, the start of a journey that will help our brand to reach its full potential, while maintaining its strong brand identity and continuing to nurture its culture of research and experimentation.
Our headquarter in Ravarino will remain the beating heart of the brand and a center of excellence that will be further enhanced and my team and I will continue, in our current roles, to do what we have been doing with great passion for many years.
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.
For more on the acquisition, check out our exclusive interview with Moncler CEO Remo Ruffini, who explained his vision for the partnership.