×
223
Fashion Jobs
LEVI'S
Key Account Manager
Permanent · London
TOMASZ DONOCIK
Digital Marketing And Sales Coordinator
Permanent · LONDON
PYOU
Wholesale Business Developer/Sales Manager
Permanent · LONDON
SHISEIDO
Demand Planner
Permanent · London
SHISEIDO
Commercial Finance Analyst
Permanent · London
SHISEIDO
Bareminerals Account Manager - bt2, Blanchardstown
Permanent · Chappaqua
SHISEIDO
Bareminerals Account Manager - Moores, Colearine
Permanent · Coleraine
SHISEIDO
Group Business Analyst
Permanent · London
SHISEIDO
Accounts Payable Manager
Permanent · LONDON
LEVI'S
Sales Stylist London o2 Arena 16 Hours
Permanent · London
HUGO BOSS
Assistant Store Manager - New Cathedral Street, Manchester
Permanent · Manchester
HUGO BOSS
Sales Associate - New Cathedral Street, Manchester
Permanent · Manchester
HUGO BOSS
Sales Associate - Southampton
Permanent · Southampton
HUGO BOSS
Sales Associate - Bristol Cribbs Causeway
Permanent · Bristol
HUGO BOSS
Brand Specialist - Birmingham Bullring
Permanent · Birmingham
HUGO BOSS
Assistant Store Manager - Bicester
Permanent · Oxford
HUGO BOSS
Assistant Store Manager - Bristol Cribbs Causeway
Permanent · Bristol
HUGO BOSS
Supervisor - Milton Keynes
Permanent · Milton Keynes
HUGO BOSS
Brand Specialist - New Cathedral Street, Manchester
Permanent · Manchester
CLERGERIE
Assistant Store Manager (Walton Street)
Permanent · LONDON
MAJE
Sales Assistant, Full Time - Selfridges, London
Permanent · LONDRES
BRUNELLO CUCINELLI
Senior Client Advisor - Chinese/Arabic Speaker
Permanent · LONDON
Published
Feb 24, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Moncler acquires remaining 30% of Stone Island

Published
Feb 24, 2021

Moncler, the Italian luxury brand famous for its iconic down jackets, announced on Tuesday that it has entered into an agreement with Venezio Investments Pte. Ltd., a wholly owned subsidiary of Temasek Holdings Private Ltd. to acquire the remaining 30% stake of the Stone Island brand’s parent group, Sportswear Company S.p.A. (SPW), for 345 million euros.


Moncler first announced the acquisition of Stone Island in December 2020 - Instagram: @stoneisland_official

 
In December of last year, Moncler revealed that it would be acquiring a 70% stake in SPW from Stone Island CEO Carlo Rivetti’s Rivetex S.r.l., as well as from other members of the Rivetti family, including Alessandro Gilberti, Mattia Riccardi Rivetti, Ginevra Alexandra Shapiro and Pietro Brando Shapiro.
 
With this transition now signed off on, the purchase of Temasek’s share will see Moncler acquire 100% of SPW. Altogether, the deal values Stone Island at €1.15 billion and is expected to close on March 31, 2021.

Moncler has called an extraordinary shareholder meeting on March 25 in order to vote on a proposed capital increase reserved for Temasek and the Rivetti shareholders.
 
When the deal closes, the Rivetti shareholders and Temasek will subscribe an amount equal to 50% of the consideration of the deal. This will be done via the subscription of share capital increases of 402.5 million euros and 172.5 million euros, respectively.
 
The Rivetti shareholders will receive 10.7 million shares, while Temasek will receive 4.6 million, for a total of 15.3 million, all priced at 37.51 euros per share – the average share price over the last three months.
 
The newly issued shares will be subject to a lock-up restriction for 12 months after their subscription. 50% of them will also be subject to this restriction for a further six months.
 
Furthermore, Ruffini Partecipazioni Holding S.r.l., which is owned by Moncler CEO Remo Ruffini, has established an agreement with the Rivetti shareholders and Temasek, which will see them transfer their newly issued Moncler shares to the holding company, which owns a 22.5% stake in the Italian luxury brand. This is intended to support the integration of the two companies.
 
When the deal was first announced last December, Moncler and Stone Island said that they intended to develop a new luxury vision that will allow them to reach out to new generations of customers.
 
Stone Island is also expected to benefit from its new owner’s support to develop its presence in key markets in Asia and the Americas, as well as to grow its direct-to-consumer capacities.

Copyright © 2021 FashionNetwork.com All rights reserved.