Pic: Moncler Group
Italy’s down jacket maker Moncler and Sportswear Company recently announced that the former has acquired the latter’s high-end domestic streetwear and fashion brand Stone Island. Moncler will share with Stone Island its knowledge and experience to fully capture the important growth potential, in particular of the Americas and Asian markets.
The acquisition deal was reportedly worth 1.4 billion.
The acquisition will also help capture the direct-to-consumer channel, alongside Moncler’s culture of sustainability, which allowed the company to rank as industry leader of the textile, apparel and luxury goods sector in the Dow Jones Sustainability Indices World and Europe for the second consecutive year, according to a press release from the companies.
“We’re coming together 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,” Moncler chief executive officer (CEO) Remo Ruffini said.
“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,” Carlo Rivetti, chairman and CEO of Stone Island said.
Fibre2Fashion News Desk (DS)
Italy's down jacket maker Moncler and Sportswear Company recently announced that the former has acquired the latter's high-end domestic streetwear and fashion brand Stone Island. Moncler will share with Stone Island its knowledge and experience to fully capture the important growth potential, in particular of the Americas and Asian markets.