Asia and direct-to-consumer momentum lifted revenues above expectations as Moncler and Stone Island gained ground in a mixed luxury market
Moncler Group reported first-quarter revenues of 880.6 million euros for the three months ended March 31, up 6 percent from 829 million euros a year earlier. At constant exchange rates, sales increased 12 percent, exceeding analyst expectations and positioning the group as one of the stronger performers in an uneven start to the luxury earnings season.
Moncler brand revenues rose 6 percent to 766.5 million euros, with Asia delivering the strongest performance. Sales in Asia, including China, Japan, and Korea, increased 14 percent to 433 million euros, or 22 percent at constant currency, with China and Korea leading growth. The Americas declined 2 percent reported but rose 7 percent at constant exchange rates, while Europe, the Middle East, and Africa fell 2 percent, impacted by softer tourism flows and weaker online demand.
The direct-to-consumer channel remained a key driver, with Moncler DTC revenues up 7 percent to 674.5 million euros, or 14 percent at constant currency. Executive chairman Remo Ruffini said the results reflected “the depth of the relationships that our brands continue to build with their communities around the world,” adding that both Moncler and Stone Island had shown “strong energy and cultural relevance” despite geopolitical uncertainty.
Stone Island revenues rose 6 percent to 114.1 million euros, with Asia up 14 percent and the Americas up 14 percent on a reported basis. The brand’s DTC business gained 10 percent, supported by growth across all regions. As Moncler prepares a new leadership chapter under incoming chief executive officer Leo Rongone, the group’s first-quarter performance suggests disciplined execution and brand relevance remain valuable currencies in a cautious luxury market.
