Moncler Unexpectedly Acquires Stone Island In Billion Dollar Deal

STONE ISLAND

This morning, Moncler has unexpectedly acquired rival brand Stone Island. Sharing a “beyond fashion, beyond luxury” foundation, the pair has joined forces on the shared principles and visions of each brands. 

The deal is being reported to be estimated around $1.39 billion in a cash sale for a complete buyout. The cash sale purchases 100 percent of Stone Island’s shares giving Moncler complete control over the brand. The main focus of the new “partnership” is to develop of more connection with the emerging youth all while attempting to freshen up their stance in the luxury realm. The Stone Island vision will be worked into a new development by Moncler that has a renovated view on Luxury that will together embracing the notes of inclusivity and experientially of sports, art, music, and culture. 

Both brands Chairmen and CEO’s, Remo Ruffini of Moncler S.p.A. and Carlo Rivetti of Stone Island, have voiced their plan to heighten both brands visibility and competitiveness while maintaining individual identity and uniqueness. The deal has been a year in the making with constant back and forth negotiations and didn’t reach a final agreement until last night. The brands only plan to share knowledge with each other in return increasing the notoriety, talent, and ingenuity of each brands. A key area for enhancement one Ruffini believes is in Asia where Stone Island currently only has a few stores in China and minor expansion into Japan, which between the two makes up for %40 of Moncler’s total revenue.
 
The two gentlemen made statements regarding the vision of the future of each brand, see them below:
 

Remo Ruffini

I have always worked to build a strong brand where uniqueness and closeness to the consumer have been the cornerstones of a development always beyond trends and conventions.

Sharing the same vision leads us today to joining forces with Stone Island to write our future together.

Led by an entrepreneur of high renown, Stone Island is a great success story, a company that has built an exceptionally strong relationship with its community, offering a highly distinctive product, as a result of unique technical skills and an absolute clarity in its positioning. It is a story of Italian excellence.

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. We believe in an open and engaged universe, which thrives on community, experiences and cultural exchanges, where communication is always interaction and where the aspirational goes beyond possession to become “being part of” and “belonging.”

We’re coming together – continues Remo Ruffini – 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.

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.

Carlo Rivetti

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.

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.

Our headquarter in Ravarino will remain the beating heart of the brand and a center of excellence that will be further enhanced and my team and I will continue, in our current roles, to do what we have been doing with great passion for many years.

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.

This is also an opportunity to share and grow for all the people of Moncler and Stone Island with whose contribution we will continue to write, together, a story of ingenuity, creativity and professionalism to honor Italy in the wider world.

 

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