Moncler is to buy its rival Stone Island in a huge billion dollar deal.
It is said the plan is to keep the two brands separate however there will be some collaboration on how best the brands can capture the Asian and American markets as-well-as expanding their direct to consumer channels.
Carlo Rivetti, Chairman and CEO of Stone Island said in a statement, “Remo and I have decided to combine forces and visions to meet together and with greater strength than ever the challenges we all face. We share the same roots, similar entrepreneurial journeys, and the utmost respect for the profound values of our brands and our people. And we are Italians.“