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Luxury fashion brand Moncler has announced the acquisition of Italian brand Stone Island for an undisclosed sum.
The transaction will see the two brands work together to strengthen their ability to “interpret the evolving cultural codes” of new generations, while reportedly reinforcing their positioning within the luxury segment.
Moncler will work alongside Stone Island to share its “knowledge and experience” and fully capture the “important growth potential”, in particular across the Americas and Asian markets, as well as in direct to consumer channels.
Remo Ruffini, chairman and CEO of Moncler, said that “sharing the same vision” with Stone Island was one of the main reasons for the partnership.
He commented that Stone Island is a “great success story”, and 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.
Ruffini said: “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 recognise 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”.”
He added: “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 rigour, 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.”
