Moncler takes step forward in Stone Island integration
Moncler has taken the next step in its integration of the acquired Stone Island operation into the company. It said the board of Moncler and its Sportswear Company subsidiary (or SPW, which holds the Stone Island brand) has approved the “partial demerger plan in favour of Moncler’.
The assets of SPW that are being transferred to Moncler are the Stone Island brand and the “set of assets and contracts that compose the SPW Style and Marketing business divisions”.
It’s part of the “broader integration between Moncler and SPW and the subsequent reorganisation of Moncler Group”. And the ultimate aim? Enabling “greater operational, functional and economic efficiency” of the winder group.
Moncler already owns the entire share capital of SPW so it’s a relatively straightforward process. It bought its first majority stake in the company late last year in a deal that valued Stone island at €1.15 billion.
At the time, the two firms said they planned to jointly develop a new luxury vision and that the merger would strength their ability to tap into what new generations of consumers want to buy and wear.
Moncler bought the remaining 30% it didn’t already own in February.
Copyright © 2021 FashionNetwork.com All rights reserved.