Moncler Acquires Stone Island
The Italian brand founded by Carlo Rivetti and Massimo Osti blurs the lines between technical wear, streetwear and fashion.
Moncler will acquire rival Stone Island in a transaction valuing the Italian sportswear brand at 1.16 billion euros, the companies said in a statement Monday.
Stone Island’s sales grew 1 percent to 240 million euros in the 12 months ending October 2020, with 28 percent EBITDA, a measure of profit.”
We’re coming together at a challenging moment both for Italy and the world,” Moncler’s chairman and CEO Remo Ruffini said.