Singapore investment firm Temasek Holdings is set to acquire a 30% stake of premium Italian fashion label Stone Island for an undisclosed figure.
Temasek invested in Farfetch during the Series F round of funding last year and also has a 26.8% stake in fashion firm Moncler.
The capital provided in the deal is expected to help the brand expand its international reach.
Carlo Rivetti, founder and majority shareholder of Stone Island’s Parent firm, Sportswear Company S.p.A. said: “I am truly satisfied for this partnership with one of the world’s most established investment companies. I particularly appreciate Temasek’s investment strategy to participate in companies with strong growth potential, know-how and identity.”
Stone Island was founded in 1982 by Massimo Osti and is famous for its jackets crated from fabric for military use. The brand is a favourite of Liam Gallagher. 2016 revenue for the company was reported at €109m, a 26% increase on the previous year.
Another fashion brand founded by Osti, C.P. Company, was sold to Hong Kong apparel group Tristate Holdings in 2015.