Italian luxury group Moncler said on Monday it would buy Stone Island in a two-step acquisition deal giving its smaller rival a company value of 1.15 billion euros ($1.39 billion).

Moncler is buying smaller Italian high-end streetwear and fashion brand Stone Island in a 1.15 billion euro ($1.4 billion) deal which could signal an intention to consolidate rather than be acquired.

With the NHL season officially underway, the league has teamed up with lululemon once again, expanding its collection to include all 32 teams.

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