Moncler unexpectedly acquired Stone Island in a deal worth more than £1 billion.
The deal marks Moncler‘s first acquisition as well as significant shift in ambitions for the company.
The two Italian brands will remain autonomous entities, although the acquisition will see both brands’ plans on how to become more sustainable in their production and how to best capture more of the American, and Asian markets.
The agreement was reached on December 7th, 2020. As reported, Moncler bought just over 50% of Stone Island from Carlo Rivetti, and further 20% from other family members. The aim is to purchase the rest of the Stone Island shares from the Singapore’s state investor Temasek and finalise the deal in the first half of 2021.
With the initial idea to develop a new shared vision of luxury, Remo Ruffini and Carlo Rivetti combine forces by sharing the same roots, similar entrepreneurial journeys and respect for the profound values of their brands and people.
The deal has definitely caused some big reactions already, both positive and negative. As of right now, we can only wait to see what’s going to come out of this new and interesting Italian partnership.