The shareholders of Sportswear Company, owner of Stone Island, have reached an agreement to sell 30% of the company shares to Singapore-based investment company Temasek.
Carlo Rivetti, majority shareholder in Stone Island, said the deal would strengthen the brand’s potential for growth in an “increasingly complex” market.
“I particularly appreciate Temasek’s investment strategy to participate in companies with strong growth potential, know-how and identity. Furthermore, they guarantee the continuity and the autonomy of the company’s management team which, in our case, has proven to successfully face and overcome our sector’s challenges.
“With this operation I wanted to both capitalise the work done in 35 years and to team up with a partner to face the increasingly complex opportunities proposed by the markets”.
Temasek was founded in 1974 and has 10 offices internationally, its website says. Its portfolio covers a broad spectrum of industries, including financial services, telecomms, media and technology, transportation, consumer and real estate, life sciences, agriculture and energy.