Temasek acquires 30% stake in Stone Island

According to the World Apparel and Footwear Network, Sportswear Company, the parent company of Italian high-end menswear brand Stone Island, announced that it has sold a 30% stake in Stone Island to Singapore's sovereign investment fund Temasek, but did not disclose the specific transaction amount.

Founded by designer Massimo Osti in 1974, Stone Island uses the same coated canvas fabric as the military tarpaulin. The design blends professional clothing, street and high-end fashion. These jackets are very popular and become their iconic goods. Since then, Stone Island has also worked with New York street fashion brand Supreme and sports goods giant Nike. Sportswear Company said it hopes to help Stone Island further expand its international market through this transaction.

In 1983, GFT, one of the predecessors of Sportswear Company and one of Italy's largest apparel manufacturers, acquired Stone Island. Carlo Rivetti (pictured below), the founder and majority shareholder of Sportswear Company, currently serves as president and creative director of Stone Island.

In 2016, Saleswear Company's sales reached 109 million euros, up 26% from the 87 million euros in 2015; EBITDA (earnings before interest, taxes, depreciation and amortization) was 20 million euros, up 52% ​​year-on-year.

Carlo Rivetti said: “I am very pleased to have the opportunity to work with Temasek to help Stone Island enhance its competitiveness in the international market while ensuring the continuity and autonomy of the company's management team.”

In fact, as early as 2013, Sportswear Comapny hired Rothschild as a financial advisor to evaluate the offer for the acquisition of Stone Island, but ultimately did not choose to sell.

Temasek is a Singapore-based investment company founded in 1974. Their portfolio spans a wide range of business sectors such as telecommunications, media and technology, financial services, transportation and industry, consumer and real estate, life sciences and integrated agriculture, and energy and resources.

Temasek is also a shareholder of Italian luxury outdoor apparel brand Moncler. Together with Swiss travel retailer Dufry, they acquired a 24.4% stake in the holding company Ruffini Partecipazioni and became a new investor in Moncler. Ruffini Partecipazioni owns a 27% stake in Moncler.

Temasek is also an investor in Chinese e-commerce giants Alibaba, Singapore Airlines and Spanish oil company Repsol.

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