Moncler buys Stone Island for € 1.6 billion, according to The Business of Fashion. In 2020, Stone Island sales are up 1% to € 240 million compared to 2019. EBITDA (profit of the company before taxes) during this time amounted to 28%.
“We are joining together at a difficult time for both Italy and the world,” comments Remo Ruffini, Chairman and CEO of Moncler.
Moncler was founded in 1952 by Rene Ramillon and originally produced sleeping bags, raincoats and tents with tech cover. The first wadded jackets were designed for workers. Later, Moncler launched a line of outerwear for extreme expeditions, followed by jackets and down jackets with wind and moisture protection for urban residents.
The Stone Island brand was founded in 1982 by Massimo Osti, who experimented with industrial fabrics to increase their durability and make them less sensitive to rain and sun. Stone Island jackets have become popular not only with athletes, but also in the world of subcultures, which has made it one of the main streetwear brands in the world. Stone Island is currently owned by the Carlo Rivetti Sportswear Company.