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 within 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 funding fund Temasek.
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The casual brand has a loyal following among male stars, with Liam Gallagher just lately outraged by the theft of his favourite Stone Island parkas from his hotel room during Glastonbury Festival.
Coats and jackets stone island jacket half price promote for upwards of £200, typically fetching £600 for premium fashions. The brand, which is more than forty years outdated, was based by Massimo Osti however is now run and designed by Carlo Rivetti.
C.P. Stone Island Jumpers Jackets Company, another fashion brand established by Osti, was purchased by Hong Kong apparel group Tristate Holdings in 2015.
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Carlo Rivetti said the deal to sell practically a 3rd of Stone Island to Temasek showed the model’s sturdy development potential. “I needed to both capitalise on the work executed in 35 years and to group with a partner to face the more and more complex alternatives proposed by the markets,” he stated.