Carlo Rivetti
Former owner and long time leader of Stone Island
Carlo Rivetti is the Italian entrepreneur who bought Stone Island in 1993 and led the technical sportswear brand for almost three decades. Under his stewardship the label became known for fabric and dye research, and in 2020 he agreed its sale to Moncler for 1.15 billion euros.
| Role | Owner of Stone Island (1993 to 2021) |
|---|---|
| Acquisition | Bought Stone Island from GFT in 1993 |
| Sale | Sold to Moncler for 1.15 billion euros, completed March 2021 |
| Known for | Research driven technical sportswear |
Who is Carlo Rivetti?
Carlo Rivetti is an Italian fashion entrepreneur closely identified with Stone Island, the menswear brand famous for its compass badge and its experimental approach to materials. He controlled the company from 1993 until its sale to Moncler, which was completed in 2021.
Career
Stone Island was created in the early 1980s and was part of the Turin based clothing group GFT. In 1993 Rivetti purchased the brand from GFT and combined it with C.P. Company Sportswear. In 1996 he appointed the English designer Paul Harvey as creative director. Harvey extended the brand's experimental approach by collaborating with manufacturers of technical materials, including DuPont, which supplied innovations from the military and medical sectors.
In 2008 Rivetti changed the creative model and entrusted design to an international team, including the designer Errolson Hugh, who led the Shadow Project, the brand's experimental line focused on technical development. Stone Island became popular in Europe and Japan in the 1990s and in the United States and Canada in the 2010s.
In 2017 the Singaporean investor Temasek bought a 30 percent stake valued at 345 million euros, with Rivetti keeping majority control. On 7 December 2020 Moncler announced the acquisition of Stone Island for 1.15 billion euros in an all cash transaction. At the time Rivetti was the company's chief executive and, with family members, held the majority of the shares, while Temasek held about 30 percent; Moncler offered Temasek the same price, with the option of taking part of the payment in new Moncler shares. The deal closed on 31 March 2021. The Rivetti family became shareholders in Moncler's controlling holding company.
Influence on the fashion business
Rivetti built Stone Island around research rather than seasonal trends. The company became known for:
- Developing and treating its own fabrics, including garment dyeing and reflective or heat sensitive materials
- Collaborating with technical material suppliers from outside fashion
- Creating a dedicated experimental line to test new construction and materials
This approach made Stone Island a reference for the convergence of sportswear, functional clothing and luxury, and helped shape the wider market for technical menswear.
Why it matters
Rivetti showed that a mid sized Italian company could build global brand equity through product innovation. The sale to Moncler, one of the largest deals for an Italian menswear brand, underlined the value of that model and the strategic interest of luxury groups in technical outerwear and streetwear.
Frequently asked questions
Who is Carlo Rivetti?
Carlo Rivetti is the Italian entrepreneur who bought Stone Island in 1993 and led it for nearly three decades. He agreed its sale to Moncler in December 2020.
How much did Moncler pay for Stone Island?
Moncler agreed to acquire Stone Island for 1.15 billion euros in December 2020, and the transaction was completed on 31 March 2021. The Rivetti family became shareholders in Moncler's controlling holding company.