BEYOND FASHION, BEYOND LUXURY: MONCLER ACQUIRES STONE ISLAND

Marking its first-ever acquisition, Moncler SpA has sealed the purchase of Stone Island in a transaction that values the iconic Italian sportswear company at €1.15 billion. Especially in these challenging times, the union aims to develop a new shared vision of luxury that elevates the interpretation of the evolving cultural codes of the new generations. “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,” says Remo Ruffini, Chairman and CEO of Moncler S.p.A. Similarly, the agreement reinforces the positioning of the two storied Italian brands within this contemporary luxury segment, while spurring Stone Island’s global growth in key international markets such as China. Embracing experientiality, inclusivity and a sense of belonging to a community blended with inspiration from the worlds of art, culture, music and sport, Moncler and Stone Island will cement their vision of the future to offer to new generations a new concept of luxury that bypasses traditional stereotypes in which young people no longer recognize themselves. “We’re coming together at a challenging moment, but I believe it is precisely in these moments that we need new energy and new inspiration to build our tomorrow,” notes Ruffini. For his part, Carlo Rivetti, Chairman and CEO of Stone Island, is convinced that he and Ruffini “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,” contends Rivetti. Stone Island was founded in 1982 by Massimo Osti. Singapore-based fund Temasek bought a 30 percent stake in the sportswear company in 2017, further driving its growth and appeal with hefty double-digit sales increases globally. Over the decades, this brand with its Wind Rose logo has become a symbol of extreme research in fibers and textiles, applied to an innovative design. A pioneer in redefining the common meaning of sportswear, today Stone Island is a cult phenomenon that has maintained its buzzy leadership as a contemporary point of reference even for the younger generations. Its strength lies in its unique capacity to work on the finished garment, via continuous experimentation with dyes and treatments created in the Sportswear Company’s color laboratory. Here, thanks to a combination of advanced technology, experience and expertise, more than 60,000 different dye recipes have been developed over the years.