The deal between the two Italian brands will allow Moncler to diversify and Stone Island to expand abroad
Last Monday (December 7), Moncler Spa.signed a deal to buy Stone Island, a fellow producer of high-end sportswear, for 1.15 billion euros. The move is expected to foster new growth in the luxury sector, which has been severely affected by the pandemic. Interestingly, Moncler will introduce Stone Island to its unique culture of sustainability. Moncler, for one, was awarded the title of Industry Leader of the Textile, Apparel and Luxury Goods sector in the Dow Jones Sustainability Indices World and Europe for two years in a row. At the same time, Remo Ruffini, Chairman and CEO of Moncler S.p.A., and Carlo Rivetti, Chairman and CEO of Stone Island will continue to grow and respect the autonomy of accelerating the development of both companies.
“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,” says Carlo Rivetti, CEO of Stone Island. Remo Ruffini, CEO of Moncler, added: “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.”
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