Moncler Has Unexpectedly Acquired Stone Island
Moncler acquiring Stone Island, an unforeseen scenario leaving all the customers of the brand surprised. Recent reports stated the deal to be around €1.15 billion EUR an approximate of $139 billion USD, a complete cash sale of 100% of Stone Island shares integrated into Moncler to envision a new development in the line. Stone Island, a brand which followed the philosophy “beyond fashion, beyond luxury”, had its own definitions to art, culture, music and sport now sees itself in this unexpected scenario.
With the association in place, the Italian brand will now be able to strengthen the skill of perception regarding the garments preferred by the current generation alongside making a name for themselves as a luxury brand.
Remo Ruffini, Chairman and CEO of Moncler S.p.A. and Carlo Rivetti, Chairman and CEO of Stone Island wishes for the brands to compete with each other and expand in their own respective segments alongside.
Stone Island is well known for their streetwear amongst the Asian and American markets as well as the Direct to consumer medium. Developing the brand, Moncler will be giving Stone Island a walkthrough in the culture of sustainability via which Moncler acquired the title of 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 working side by side studying the market, required product, entrepreneurial, and management point of views in parallel to the future envisioned by Ruffini and Rivetti.
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