Liam Gallagher Favorite Stone Island Sells Stake To Singaporean Wealth Fund Temasek
An Italian menswear model 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 Firm S.p.A.will promote a 30 per cent stake to the Singaporean state-owned investment fund Temasek.
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The casual model has a loyal following amongst male stars, with Liam Gallagher not too long ago outraged by the theft of stone island full zip hooded sweatshirt his favourite Stone Island parkas from his resort room during Glastonbury Festival.
Coats and jackets sell for upwards of £200, often fetching £600 for premium models. The model, which is greater than 40 years previous, was founded by Massimo Osti however is now run and designed by Carlo Rivetti.
C.P. Company, one other style model established by Osti, was bought by Hong Kong apparel group Tristate Holdings in 2015.
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Carlo Rivetti said the deal to sell nearly a 3rd of Stone Island to Temasek showed the brand’s sturdy progress potential. “I wished to both capitalise on the work finished in 35 years and to workforce with a companion to face the increasingly complex alternatives proposed by the markets,” he stated.