Recognizing Shared Values In Stone Island, Moncler Looks To Accelerate The Brands Growth
Moncler S.p.A. and Stone Island brand owner Sportswear Company S.p.A., announced today that Moncler has acquired the firm at a valuation of $1.14 billion USD.
Moncler’s Remo Ruffini and Stone Island’s Carlo Rivetti are through this deal consolidating their vision of the future, bringing together their entrepreneurial, managerial and creative cultures, their technical product know-how with the goal to further strengthen the competitiveness of the Moncler and Stone Island brands while fully respecting their individual identities.
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.
– Remo Ruffini, Chairman and CEO of Moncler S.p.A.
The partnership is an opportunity for the continued development of both companies and will help Stone Island accelerate its international growth thanks to Moncler’s experience in both the physical and digital retail world. As an example, Moncler has 218 retail stores which account for 77% of their revenue while Stone Island only has 24 retail locations and relies on wholesale partners for three-quarters of their revenue. With Moncler’s knowhow, Stone Island will be able to increase their direct to consumer sales which will bring in a considerably larger revenue stream. The markets reacted positively to this news; after the news was announced Moncler’s value shot up 6.5%. Investors see potential in Stone Island and know that Moncler will help the brand realize that value.
Alongside all of economic factors Moncler will share its culture of sustainability which allowed Moncler to rank as Industry Leader of the ‘Textile, Apparel & Luxury Goods’ sector in the Dow Jones Sustainability Indices World and Europe for the second consecutive year.
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.
– Carlo Rivetti, Chairman and CEO of Stone Island
The goal explained by Moncler in the press release is, together with Stone Island, to offer a new concept of luxury with outerwear as the cornerstone. Culturally, the pairing plans to open and engage their audience that thrives on community, experiences, and cultural exchanges.
Stone Island’s headquarters in Ravarino will remain the home of the brand, and their team will remain in place as they move forward with Moncler’s help. So begins a new chapter for Stone Island, the start of a journey that will help the brand reach its full potential while maintaining its strong brand identity and nurturing its research and experimentation culture.
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