The Singapore-based investment company Temasek has acquired a 30% stake in Sportswear Company S.p.A, owner of the Stone Island brand. Temasek Holdings is owned by the Singaporean government and has stakes in many of the biggest Singaporean companies (including SinTel, DBS Bank, Singapore Airlines and Singapore Power), and also foreign enterprises such as Qantas Airways in Australia and the Bank of China. It is now the second biggest shareholder of Sportswear Company S.p.A/Stone Island after brand president Carlo Rivetti, who owns a majority share.
Said Rivetti: “They [Temasek] 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 capitalize the work done in 35 years and to team with a partner to face the increasingly complex opportunities proposed by the markets.”