On March 19, the former owner of Stone Island, the Rivetti family of Italy, announced that it had sold a 1.18% stake in the Italian luxury group Moncler to institutional investors at a price of 67 euros ($75.04) per share, causing Moncler's stock price to fall by 3.5% on the same day. According to the Rivetti couple, they still hold a 0.5% stake in Moncler through a company named Grinta. The connection between Rivettis and Moncler dates back to three years ago when Moncler acquired their company, Stone Island. As of March 19, Moncler's stock price fell by 2.5% to 67.5 euros ($75.60).