Stone Island has unexpectedly joined Moncler

Stone Island has unexpectedly joined Moncler.

The deal is reported to be around €1.15 billion EUR for 100 percent of Stone Island’s shares, the deal was paid in cash and was incorporated into Moncler’s development of a new shared vision of luxury.

The Italian names will work together and look to strengthen their ability to interpret cultural codes while progressing their position in an emerging segment of luxury.

Remo Ruffini, Chairman and CEO of Moncler S.p.A. and Carlo Rivetti, Chairman and CEO of Stone Island are looking to strengthen the competitiveness of both businesses. Moncler will also be introducing Stone Island to its culture of sustainability; this is the culture that has made Moncler an Industry Leader of the Textile, Apparel & Luxury Goods sector in the Dow Jones Sustainability Indices World and Europe for the second consecutive year.