Moncler will pay Stone Island’s valuation price which is $1.4bn.
Although the acquisition will see the two brands share information on how to develop in the American and Asian markets, the two will remain separate entities whilst accelerating the development of both companies.
The pair will also explore ways to improve their Direct to Consumer channel and Moncler will introduce Stone Island to its sustainable culture. Both brands will consolidate their technical product knowledge, as well as their entrepreneurial spirit and managerial and creative cultures.
Carlo Rivetti, Chairman and Chief Executive Officer, commented: “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.”
