Moncler S.p.A. reported revenues of €615.6 million ($717 mm) in the third quarter, down 1 percent on a currency-neutral basis. Sales in the nine months totaled €1,841.3 million, down 1 percent on a reported basis and flat at constant exchange rates.
Moncler brand revenues in the third quarter amounted to €514.2 million, down 1 percent on a currency-neutral year-over-year (YoY) basis.
The direct-to-consumer (DTC) channel for the Moncler brand was flat on a currency-neutral basis YoY in the quarter, slightly improving sequentially, “despite ongoing macroeconomic headwinds and subdued consumer sentiment,” Moncler S.p.A. reported. DTC accounts represent about 80 percent of the brand’s sales.
The wholesale channel for the Moncler brand declined 4 percent on a currency-neutral basis YoY but also improved sequentially. Moncler said its wholesale business decline reflects “the ongoing efforts to upgrade the quality of the distribution through further network optimization.”
In the Americas region, Moncler’s third-quarter revenues were up 5 percent on a currency-neutral basis YoY, supported by double-digit growth in the DTC channel, partly offset by the wholesale channel’s negative performance.
Revenues in the Asia region (including APAC, Japan and Korea) for the Moncler brand were flat YoY at constant exchange rates, in line with the previous quarter. Within the region, China continued to outperform, while Japan and Korea posted weaker results than China and the overall region.
In the EMEA region, Moncler brand revenues were down 4 percent on a currency-neutral basis YoY, improving sequentially. Tourism flows remained subdued in the region, below last year’s levels and slightly improving from the previous quarter. The EMEA is the Moncler brand’s largest region, accounting for about 49 percent of sales compared with about 37 percent for APAC and 14 percent for the Americas.
In the first nine months, Moncler brand revenues were €1,553.2 million, flat on a currency-neutral basis compared with the same period in 2024.
Stone Island revenues amounted to €101.4 million in the third quarter, flat on a currency-neutral basis YoY, negatively impacted by a different timing of wholesale deliveries Q3 vs Q4 compared with last year, offset by a solid DTC performance. In the first nine months of 2025, Stone Island brand revenues reached €288.1 million, a decrease of 1 percent on a currency-neutral basis compared with the same period of 2024.
Remo Ruffini, chairman and CEO of Moncler S.p.A., commented: “As we close the first nine months of the year, we remain focused on executing our strategy with discipline, agility and a strong sense of direction, aware of the challenges around us, but even more committed to the opportunities ahead.
“Our recently launched communication campaign Warmer Together celebrates the values that have defined Moncler for over 70 years — love, connection and a shared sense of warmth — brought to life through the friendship of two legendary Hollywood icons. These same values come to life in Casa Moncler, our new headquarters and a key milestone in our journey. More than just a space, it is a powerful expression of our culture where creativity meets innovation, and where our people come together with strong energy and a deep sense of belonging to shape the future of our brand. In a world that continues to evolve, we stay true to who we are — acting with responsibility, leading with intention, never compromising the long-term value of our brands for short-term results,” continued Ruffini.
Image courtesy Moncler
