Moncler Group has emerged as a standout performer in the luxury industry, surpassing sales of 3.1 billion euros in 2024 and showcasing resilience in a complex and volatile environment. The group’s strong performance, which beat analysts’ forecasts, was driven by significant growth in China, where several competitors still struggle to gain traction.
Moncler SpA chairman and chief executive officer Remo Ruffini described the results as “remarkable,” highlighting the “strength of the group’s business model and operational discipline.” The group maintained an impressive operating profit margin of almost 30 percent and reported double-digit growth in its direct-to-consumer channel for both its brands, Moncler and Stone Island.
Despite the ongoing uncertainty at the global macroeconomic level, Ruffini expressed confidence in the group’s ability to navigate the evolving market dynamics. “These results are more than numbers, they are about searching for creativity and uniqueness, never settling for the ordinary. We never compromise, we aim never to get bored so as not to bore others. In our ambition to push boundaries beyond conventions, we are shaping the future of our brands to drive sustainable growth and create long-term value,” he said.
By brand, Moncler revenues rose 5 percent to 2.7 billion euros, while Stone Island revenues decreased 2 percent to 401.6 million euros. The group’s net profit increased by 5 percent to 639.6 million euros, and its operating profit rose to 916.3 million euros, a margin of 29.5 percent.
The group’s performance was particularly strong in Asia, where revenues grew by 7 percent, including a return to solid double-digit growth in mainland China. Roberto Eggs, the group’s chief business strategy and global market officer, attributed this success to a deep understanding of Chinese consumers, the development of specific capsules, and relevant events throughout the year. He also highlighted the increased interest in the outdoors after COVID-19, a trend that is expected to continue.
The Americas region was another area of focus, with Moncler revenues increasing by 2 percent. Eggs said the U.S. is one of the largest opportunities, and the group has strengthened its collaborations with key retailers like Saks and Nordstrom. The group is also set to open a flagship store on Fifth Avenue in New York City in early 2026, marking “the first part of the conquest” of the U.S. market.
In Europe, Middle East, and Africa (EMEA), the group recorded a 4 percent increase in revenues, with the direct-to-consumer (DTC) channel registering a positive contribution from both tourists and locals. The wholesale channel, however, continued to face challenges, with revenues declining by 8 percent compared to 2023.
Stone Island, which joined the Moncler Group in May 2023, is also showing positive momentum. CEO Robert Triefus said, “the foundations are largely in place, the collection is very representative of the DNA, and we are seeing good traction. We expect the momentum at DTC continuing in 2025.”
The Moncler Group’s strong performance and strategic initiatives demonstrate its ability to navigate the complexities of the luxury market and deliver sustainable growth. The group’s focus on creativity, uniqueness, and brand experience has positioned it as a leader in the industry, poised to continue its success in the years to come.
Moncler London
