Moncler S.p.A and Sportswear Company S.p.A – the owner of the Stone Island label – have reached an agreement that will see Stone Island join Moncler to further develop its vision of luxury.

The freshly inked deal points to a new, aggressive direction for Moncler, who has oft been viewed as a target by the likes of luxury conglomerates Kering and LVMH, instead of an acquirer.

The exciting combination also sees the brands united by Ruffini and Rivetti’s vision for the future of luxury exemplified by their “beyond fashion, beyond luxury” philosophy,  reinforcing their positioning within the new luxury segment.

“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,” says Carlo Rivetti, CEO of Stone Island.

“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,” adds Remo Ruffini, Moncler CEO.

The agreement was signed between Moncler and Rivetex Srl, a company referable to Carlo Rivetti, for a 50.1 per cent stake of Sportswear Company’s capital, while the Rivetti family remain owners of a stake equal to 19.9 per cent. The agreement values Stone Island at 1.15 billion euros – with the purchase of shares to be paid in cash by Moncler.

Further Carlo Rivetti and his family will subscribe for an amount equal to 50 per cent or 10.7 million new Moncler shares at a set price of 37.51, bolstering the agreement.

Moncler.com / stoneisland.com