The Italian luxury brand famous for its iconic down jackets announced on Tuesday that it has entered into an agreement with Temasek Holdings to acquire the remaining 30% stake of Stone Island’s parent company.
Sales at luxury puffer jacket maker Moncler recovered in the key final quarter of 2020 to rise by 8% despite the fallout from the coronavirus pandemic, as soaring revenues in Asia helped it offset a decline in Europe.
Gucci has hung on to its most-in-demand number one position in the latest Lyst Index while The North Face had the hottest product in Q4, topping both the women’s and men’s list - a first for the index.
Luxury puffer jacket maker Moncler is betting heavily on younger consumers and the Chinese market to help sales bounce back from the coronavirus crisis, its boss said, seeing scope for a recovery in late 2021.
A day after Moncler announced that it's buying Stone Island, we've learned that Christopher Ræburn is going to reinvigorate two labels originally launched over 25 years ago by Stone Island founder Massimo Osti.
Moncler is to acquire Stone Island’s parent company with the outerwear specialist aiming to eventually take over the entire share capital of the business in a deal that values Moncler’s smaller peer at €1.15 billion.
It’s been a weird year for fashion retail so far and Q2 in particular saw unprecedented global conditions, so it’s no surprise that the new Lyst Index is different from usual with Nike and Birkenstock's riding high.
The latest Lyst Index comes in the middle of the biggest crisis to hit fashion in decades. And the luxe search giant said the impact of Covid-19 was felt in the quarter, affecting what people searched for.