Liam Gallagher Favourite Stone Island Sells Stake To Singaporean Wealth Fund Temasek
An Italian menswear stone island jacket 2011 brand sported by Liam Gallagher, Drake, and even Alan Partridge, has found an investor in the type of Singapore’s sovereign wealth fund.
Stone Island, owned by Carlo Rivetti’s Sportswear Company S.p.A.will sell a 30 per cent stake to the Singaporean state-owned funding fund Temasek.
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The casual model has a loyal following amongst male stars, with Liam Gallagher recently outraged by the theft of his favorite Stone Island parkas from his hotel room throughout Glastonbury Festival.
Coats and jackets sell for upwards of £200, typically fetching £600 for premium fashions. The brand, which is more than 40 years old, was based by Massimo Osti but is now run and designed by Carlo Rivetti.
C.P. Firm, one other vogue model established by Osti, was purchased by Hong Kong apparel group Tristate Holdings in 2015.
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Carlo Rivetti mentioned the deal to promote almost a 3rd of Stone Island to Temasek confirmed the model’s strong growth potential. “I needed to each capitalise on the work done in 35 years and to group with a accomplice to face the more and more complicated opportunities proposed by the markets,” he stated.