Stone Island is set to be acquired by rival brand Moncler, as announced in a press statement this morning, December 7th.
Italian brands Stone Island and Moncler have long been regarded as rival brands with similar streetwear and outerwear markets, but this deal sees them joining forces. Moncler will buy just over 50% of Stone Island from owner Carlo Rivetti, and a further 19.9% from other family members.
It’s reported that the aim is to then purchase the rest of the Stone Island shares from Singapore’s state investor Temasek. The deal is set to finalise in the first half of 2021 and is a reported €1.15 billion for 100% of shares.
Moncler is known for its luxury outerwear while Stone Island is a well-regarded streetwear brand best known for the iconic badges on products. Arguably Moncler has a higher luxury reputation, with Stone Island becoming heavily associated with football hooliganism in the 90s, and now modern day hype beasts.
What does the deal mean for Stone Island?
Of course as the deal has just been announced and isn’t yet complete, the details of how the brands will change are currently unclear. However, it’s thought that there will be a focus on sustainability and international growth in Asia and the Americas.
There’s no confirmation on how prices of Stone Island products will be affected by this deal, but many fans have voiced concerns that they will increase with Moncler having notably higher prices.
Although the two brands are merging, they will remain independent, so any hopes of a Moncler puffer jacket with a Stone Island badge are likely in vain. CEO of Stone Island, Carlo Rivetti explained:
“Our headquarter in Ravarino will remain the beating heart of the brand and a center of excellence that will be further enhanced and my team and I will continue, in our current roles, to do what we have been doing with great passion for many years. This is a partnership that represents a great opportunity for the continued development of both companies and which will help Stone Island accelerate its international growth thanks to Moncler’s experience in both the physical and digital retail world.”
Reactions to the Moncler deal
With both Stone Island and Moncler having huge reputations and cult ‘hype beast’ followings, it’s no surprise that the deal has caused a big reaction, both positive and negative.