LOOKING FOR A LINK: Stone Island is seeking a partner. The Italian men’s outerwear label, owned by Sportswear Co., said it has tapped Rothschild as its adviser to evaluate the offers it has received from a number of companies.
“The goal is to consider with serenity and no urgency possible growth paths for the brand, which in the last five years has duplicated its revenues,” said the company, which closed 2012 with sales up 12 percent compared with the previous year.
This story first appeared in the October 7, 2013 issue of WWD. Subscribe Today.
Founded by Massimo Osti in 1982, Stone Island is currently controlled by president and creative director Carlo Rivetti, who could not be reached for further comment.
In 2010, Rivetti sold his other brand, C.P. Company, to Enzo Fusco. Rivetti’s decision paid off and in 2011 Sportswear Co.’s revenues increased to 51 million euros, or $66.81 million at average exchange, from 49 million euros, or $64.19 million, in 2010.
Stone Island currently operates 16 stores globally, including a boutique in Munich that opened last September.