Moncler, growth beyond expectations: 'Let's build community'

Since the beginning of 2026, fashion and luxury brands are all under special observation: the January-March results are a valuable litmus test for at least two reasons. The first is that they make it possible to understand whether the slowdown recorded in 2025 - with very few exceptions, and the Moncler group is one of them - is over, confirming the timid signs of recovery in the fourth quarter of last year; the second is to see the effects of the war unleashed by the United States and Israel against Iran and Lebanon on 28 February. But the first-quarter figures of the Moncler group, which includes the Stone Island brand, tell much more than that, at a time when the entire high-end segment is reflecting on how to correct the distortions highlighted by the drops in revenues and profitability in 2025.

In the January-March period - as had been the case in the last three months of last year - the group exceeded analysts' expectations, closing with revenues of EUR 880.6 million, up 12% at constant exchange rates and 6% at current exchange rates, with the two brands performing homogeneously: Moncler sales rose 12% to EUR 766.5 million, and Stone Island sales by 11% to EUR 114.1 million.

The run of the dtc (direct to consumer, the mono-brand shops) channel was confirmed: for Moncler, revenues rose by 14%, for Stone Island by 17% and the other good news is that the wholesale channel - the one suffering the most for the entire luxury sector - also grew by 4% for Stone Island.

"What emerges clearly in the first quarter of this year is something more than a solid performance: it is the strength of the relationships that our brands continue to build with their communities, all over the world," commented Remo Ruffini, executive chairman of the group. "In a global context characterised by conflict and instability, both Moncler and Stone Island have demonstrated a strong energy and cultural relevance, which is reflected in the results, which do not arrive by chance.

Yesterday's board of directors also confirmed Bartolomeo Rongone as CEO: the former CEO of Bottega Veneta - the only brand in the Kering group not to have stopped growing even in 2025 - officially took office on 1 April, and the board also resolved to grant him the powers already granted to him at the meeting of 19 February last, when he was appointed by co-optation. "As a new phase of our journey begins, with Leo now in the group, the focus is very clear," Ruffini added, "to remain true to who we are, always looking ahead and keeping the integrity of our brands at the heart of every decision.