Luxury outerwear brand Moncler acquired tech outerwear label Stone Island recently for $1.4 billion. The two brands have plans to function as autonomous brands, whilst sharing information on both American and Asian markets. This works towards the mission of elevating their DTC channels to cater to the luxury market.
Both of the Italian brands have grown immensely in the past years. CEO and Chairman of Stone Island, Carlo Rivetti states, "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."
Image Credit: Moncler