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In the 19th century Giuseppe Rivetti - son of Giovanni Battista, the first carding machine operator in the Italian textile industry - carrying on the passion of his father, started to secretly sell cows from the family's farm to purchase looms.
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CEO and owner Carlo Rivetti still owns just over 50% of Stone Island, and his family owners own an additional 19.9%. Skiwear-turned-fashion-brand Moncler is buying it from them in cash. It is buying the other 30% from Temasek, which also has a small stake in Moncler.
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As Moncler's first wholly-owned brand ( Moncler acquired a 49 per cent stake in womenswear brand The Attico in 2018 ), Stone Island marks the beginning of the company's ambitions to become a full-fledged luxury conglomerate.
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December 7, 2020 at 5:48 AM PST Listen 2:59 This article is for subscribers only. Moncler SpA agreed to buy Stone Island, a rival maker of high-end sportswear, for 1.15 billion euros ($1.4.
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History Designer Massimo Osti founded Stone Island in 1982, in Ravarino, Italy. He founded the brand to compliment his flagship label, C.P. Company, which he started in 1971. [6] Osti sold 50% of Stone Island to GFT (Gruppo Finanziario Tessile) in 1983, before selling the remaining half to GFT in 1991.
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Stone Island is set to be acquired by rival brand Moncler, as announced in a press statement this morning, December 7 th. Italian brands Stone Island and Moncler have long been regarded as rival.
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Stone Island CEO Robert Triefus Maps Out Strategies. Ahead of Stone Island's first fashion show in Milan, the executive outlines the growth avenues for the brand. By Luisa Zargani. January 12.
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Stone Island. It has been a monumental five years for one of streetwear's most lasting and iconic brands. Founded in 1982 by the late visionary Massimo Osti, Stone Island has long been a.
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A culture of research, experimentation and usability are the matrixes that have always defined Stone Island; informal clothing brand born in 1982 thanks to Massimo Osti and Carlo Rivetti in Ravarino - a small town in the province of Modena - and intended to become a symbol of extreme research on fibers and fabrics, applied to an innovative design.
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Down jacket maker Moncler is buying smaller Italian high-end streetwear and fashion brand Stone Island in a 1.15 billion euro ($1.4 billion) deal which could signal an intention to consolidate.
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Temasek owns shares in both SPW and Moncler, both directly and through Ruffini Partecipazioni.. Men's wear brand Stone Island was established in 1982, and it is known for its extensive.
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TEMASEK Temasek, investment company based in Singapore, acquired the 30% of Sportswear Company S.p.A., that owns the Stone Island brand. 2020 STONE ISLAND JOINS THE MONCLER GROUP In December, Stone Island announced its entry into the Moncler Group. History
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Highsnobiety Being an Englishman in the streetwear scene, you notice that there's a bit of a one-way cultural conversation going on. Everyone knows American street culture. Pretty much the entire.
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Following Moncler's acquisition of smaller rival Stone Island for roughly $1.4 billion, Moncler's CEO and Chairman Remo Ruffini explains the future.
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Stone Island is actually an Italian brand, and before it went global was popular with an Italian youth subculture known as " paninaro ", who would hang around the Panino café in Milan wearing brands such as Stone Island, Moncler, and Best Company. As well as inventing new high-tech fabrics, the company also takes its dyeing process very seriously.
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23 February 2021 The deal, first announced in December of last year, will give Moncler the entire share capital of Stone Island and its parent Sportswear Company S.p.A. (SPW). The final 30 percent of the purchase is worth around €345 million ($419 million).