Words: Dylan Murphy
The news came this morning from the Italian brands.
According to a report in the Business of Fashion, Moncler will acquire Stone Island for €1.15 billion ($1.4 billion).
Though the two Italian brands will remain separate they will now share information on how to control American and Asian markets.
Carlo Rivetti, Chairman and CEO of Stone Island said in a statement, “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.”