Moncler S.p.A. and Sportswear Company S.p.A., that holds the Stone Island brand, have just announced that Moncler will take over Stone Island.
With this transaction the two Italian brands want to strengthen their positioning within the new luxury segment. Both brands shall keep their own identity and autonomy. Moncler will share with Stone Island its knowledge and experience to fully capture the important growth potential in particular of the Americas and Asian markets as well as in the DTC (Direct to Consumer) channel. The Stone Island headquarter in Ravarino will remain while Rivetti, Chairman and CEO of Stone Island, and his team will continue in their current roles.
As our sister publication TextilWirtschaft reports, Moncler is to acquire the premium sportswear brand for a cash valuation of €1.15 billion. This corresponds to 16.6 times the earnings before interest, taxes, depreciation and amortization of Stone Island. In a first step, Moncler will take over 70% of the shares. This is the 50.1% share of Carlo Rivetti and the 19.9% of the Rivetti family of Alessandro Giliberti, Mattia Riccardi Rivetti, Ginevra Alexandra Shapiro and Pietro Brando Shapiro. The remaining 30%, owned by the Singapore sovereign wealth fund Temasek, will be added in a second step, TextilWirtschaft further reports.
Through a capital increase, Carlo Rivetti himself is said to become a Moncler shareholder. According to TextilWirtschaft it is planned that Rivetti will enter the company through Ruffini's holding company, Ruffini Participazioni. Ruffini Partecipazioni holds a 22.5% stake in Moncler. Rivetti will also join the Supervisory Board of Moncler, the companies announced.