Moncler Acquires Sportswear Company
Moncler acquires Sportswear Company, the company that owns the Stone Island brand. Moncler’s board of directors unanimously approved the Sportswear Company merger project.
The agreement provides that the acquisition by Moncler of the shareholding will take place on the basis of an equivalent value defined by the parties in a total of € 1.15 billion calculated on 100% of the share capital.
The consideration for the purchase of the shares will be paid in cash by Moncler. It is also expected that Carlo Rivetti, following the execution of the transaction, will join the Board of Directors of Moncler.
I have always worked to build a strong brand, where uniqueness and closeness with the consumer have been the main cornerstones of a development that is always beyond fashions and conventions”, says the president and CEO of Moncler, Remo Ruffini.
“Remo and I have decided to join forces and our visions to face together and stronger the challenges that await us”, says Carlo Rivetti, president and CEO of Stone Island.
Moncler Acquisisce Stone Island - /10