Moncler Group Reports Revenue Growth

On Tuesday, Moncler Group reported a 6% increase in group revenues at constant exchange rates (cFX) for the first nine months of 2024, reaching €1.87 billion, compared to €1.81 billion in the same period last year.

The company’s flagship Moncler brand saw revenues grow 8% cFX, totaling €1.57 billion. However, the third-quarter performance fell 3% due to a 9% decline in the wholesale channel.

The company noted that "challenging market trends and efforts to upgrade the quality of the distribution network" impacted this segment. Revenues in the Direct-to-Consumer (DTC) channel, which includes stores and online sales, remained flat in Q3. This was attributed to "more difficult macroeconomic conditions affecting consumer confidence as well as the weak performance of the direct online channel across all regions."

Moncler's second brand, Stone Island, reported a 5% drop in revenues cFX for the first nine months, totaling €292.4 million. The decline was driven by weaker wholesale sales, down 22% cFX, although strong double-digit growth in the DTC channel helped offset some losses.

By geography, Moncler's strongest growth came from Asia, where revenues increased 11% cFX in the first nine months of 2024, despite a 2% decline in Q3. The EMEA region grew 6% cFX over the period, while the Americas saw a modest 3% rise.

Remo Ruffini, Chairman and CEO of Moncler, acknowledged the challenging environment: "Our industry is facing a period of continuous volatility, characterized by a more difficult global macroeconomic context."

Looking ahead, the company plans more initiatives for both Moncler and Stone Island as it navigates macroeconomic uncertainties. Ruffini added, "We remain committed to our brand-first, long-term-oriented strategy, which I believe will position us well to navigate these challenging times."