Moncler S.p.A. Reports 2024 Revenue of €3.1 Billion (+7%)
Moncler headquarters in Milan Credits: Courtesy of Moncler Moncler S.p.A. reported consolidated group revenues of €3,108.9 million in 2024, a 7% increase at constant exchange rates (+4% at current exchange rates) compared to €2,984.2 million in 2023. Group EBIT reached €916.3 million, compared to €893.8 million in the previous year, representing a 29.5% margin on revenues, compared to 30% in 2023, demonstrating resilience despite a more challenging operating environment. Dividend of €1.30 per Share to be Distributed Net profit for Moncler S.p.A. amounted to €639.6 million, a 5% increase compared to €611.9 million in 2023, representing a 20.6% margin on revenues, compared to 20.5% in 2023. The net financial position is €1,308.8 million net cash (€1,033.7 million as of December 31, 2023), after the payment of €311.0 million in dividends. In the fourth quarter, the group achieved revenues of €1,243.2 million, an 8% increase compared to the same period in 2023. In the fourth quarter, the Moncler and Stone Island brands recorded revenues of €1,134.1 million and €109.2 million, respectively. The Board of Directors also approved the proposal to distribute a dividend of €1.30 per share. "We are confident in our ability to navigate the challenges of 2025," said Remo Ruffini, Chairman and CEO of Moncler S.p.A., during the call with press and analysts following the release of the results. "In 2024, our group achieved remarkable results and demonstrated great resilience in a complex and volatile environment. Both Moncler and Stone Island recorded double-digit growth in the DTC (direct-to-consumer) channel, bringing group revenues to over €3.1 billion and maintaining a solid EBIT margin of 29.5%, a testament to the strength of our business model and our operational discipline," Ruffini emphasized. "Throughout the year, we further strengthened what makes our brands distinctive. With the Moncler Grenoble events in St. Moritz and Moncler Genius in Shanghai, which had the greatest impact in the brand's history, we continued to express our creativity, redefining the concept of brand experience. At the same time, Stone Island continued to consolidate its identity through relevant brand initiatives that engaged new and existing communities," added the CEO. Looking ahead to 2025, despite the uncertain global macroeconomic environment, management expressed confidence in its ability to navigate evolving market dynamics. Moncler revenues amounted to €2,707.3 million in 2024, +8% (+5% at current exchange rates) compared to €2,573.2 million in 2023. A solid performance in the fourth quarter (+8% year-over-year) was primarily driven by the acceleration of the direct-to-consumer distribution channel, which grew by 9% year-over-year, despite the difficult comparison base and still volatile market trends. Stone Island revenues stood at €401.6 million in 2024, down 1% (-2% at current exchange rates) compared to €411.1 million in 2023. The fourth quarter saw growth of 10% compared to the same period of the previous year, with all regions accelerating. The direct-to-consumer channel continued its solid double-digit growth path (+15% year-over-year), while the wholesale channel improved compared to the previous quarter. Revenue by Geographic Area In 2024, Moncler's revenue in Asia (which includes APAC, Japan, and Korea) were €1,379.0 million, an 11% increase compared to 2023. In the fourth quarter, revenues in the region grew by 11% year-over-year, improving compared to the previous quarter. The result was supported by a return to solid double-digit growth in Mainland China, despite the challenging comparison base and the still difficult macroeconomic conditions that continued to weigh on consumer confidence. The EMEA region recorded revenues of €949.3 million, +5% compared to 2023. Revenues in the Americas increased by 4% compared to 2023, reaching €379 million. Brick-and-mortar continued to outperform online, where the trend remained weak in the fourth quarter, although improving compared to the previous quarter, the group's statement continued. In 2024, revenues from stores open for at least 12 months (like-for-like) recorded a +3% increase compared to 2023. The wholesale channel recorded revenues of €375.4 million, down 7% compared to 2023. In the fourth quarter, channel revenues decreased by 7% year-over-year, impacted by challenging market trends and ongoing actions to improve the quality of the distribution network. As of December 31, 2024, the Moncler brand's monobrand store network consisted of 286 direct retail points of sale, a net increase of 1 unit compared to September 30, 2024, and 14 units compared to December 31, 2023. Among the stores opened in the fourth quarter are New Bond Street in London and Boca Raton in Florida. As of December 31, 2024, the Stone Island brand's monobrand store network has 90 direct retail points of sale, a net increase of 1 unit compared to September 30, 2024, and 9 units compared to Decemb
Moncler S.p.A. reported consolidated group revenues of €3,108.9 million in 2024, a 7% increase at constant exchange rates (+4% at current exchange rates) compared to €2,984.2 million in 2023. Group EBIT reached €916.3 million, compared to €893.8 million in the previous year, representing a 29.5% margin on revenues, compared to 30% in 2023, demonstrating resilience despite a more challenging operating environment.
Dividend of €1.30 per Share to be Distributed
Net profit for Moncler S.p.A. amounted to €639.6 million, a 5% increase compared to €611.9 million in 2023, representing a 20.6% margin on revenues, compared to 20.5% in 2023.
The net financial position is €1,308.8 million net cash (€1,033.7 million as of December 31, 2023), after the payment of €311.0 million in dividends. In the fourth quarter, the group achieved revenues of €1,243.2 million, an 8% increase compared to the same period in 2023. In the fourth quarter, the Moncler and Stone Island brands recorded revenues of €1,134.1 million and €109.2 million, respectively.
The Board of Directors also approved the proposal to distribute a dividend of €1.30 per share.
"We are confident in our ability to navigate the challenges of 2025," said Remo Ruffini, Chairman and CEO of Moncler S.p.A., during the call with press and analysts following the release of the results.
"In 2024, our group achieved remarkable results and demonstrated great resilience in a complex and volatile environment. Both Moncler and Stone Island recorded double-digit growth in the DTC (direct-to-consumer) channel, bringing group revenues to over €3.1 billion and maintaining a solid EBIT margin of 29.5%, a testament to the strength of our business model and our operational discipline," Ruffini emphasized.
"Throughout the year, we further strengthened what makes our brands distinctive. With the Moncler Grenoble events in St. Moritz and Moncler Genius in Shanghai, which had the greatest impact in the brand's history, we continued to express our creativity, redefining the concept of brand experience. At the same time, Stone Island continued to consolidate its identity through relevant brand initiatives that engaged new and existing communities," added the CEO.
Looking ahead to 2025, despite the uncertain global macroeconomic environment, management expressed confidence in its ability to navigate evolving market dynamics.
Moncler revenues amounted to €2,707.3 million in 2024, +8% (+5% at current exchange rates) compared to €2,573.2 million in 2023. A solid performance in the fourth quarter (+8% year-over-year) was primarily driven by the acceleration of the direct-to-consumer distribution channel, which grew by 9% year-over-year, despite the difficult comparison base and still volatile market trends.
Stone Island revenues stood at €401.6 million in 2024, down 1% (-2% at current exchange rates) compared to €411.1 million in 2023. The fourth quarter saw growth of 10% compared to the same period of the previous year, with all regions accelerating. The direct-to-consumer channel continued its solid double-digit growth path (+15% year-over-year), while the wholesale channel improved compared to the previous quarter.
Revenue by Geographic Area
In 2024, Moncler's revenue in Asia (which includes APAC, Japan, and Korea) were €1,379.0 million, an 11% increase compared to 2023. In the fourth quarter, revenues in the region grew by 11% year-over-year, improving compared to the previous quarter. The result was supported by a return to solid double-digit growth in Mainland China, despite the challenging comparison base and the still difficult macroeconomic conditions that continued to weigh on consumer confidence.
The EMEA region recorded revenues of €949.3 million, +5% compared to 2023. Revenues in the Americas increased by 4% compared to 2023, reaching €379 million.
Brick-and-mortar continued to outperform online, where the trend remained weak in the fourth quarter, although improving compared to the previous quarter, the group's statement continued. In 2024, revenues from stores open for at least 12 months (like-for-like) recorded a +3% increase compared to 2023.
The wholesale channel recorded revenues of €375.4 million, down 7% compared to 2023. In the fourth quarter, channel revenues decreased by 7% year-over-year, impacted by challenging market trends and ongoing actions to improve the quality of the distribution network.
As of December 31, 2024, the Moncler brand's monobrand store network consisted of 286 direct retail points of sale, a net increase of 1 unit compared to September 30, 2024, and 14 units compared to December 31, 2023. Among the stores opened in the fourth quarter are New Bond Street in London and Boca Raton in Florida.
As of December 31, 2024, the Stone Island brand's monobrand store network has 90 direct retail points of sale, a net increase of 1 unit compared to September 30, 2024, and 9 units compared to December 31, 2023.
Sustainability
In 2025, Moncler, according to the press release, "is committed to implementing the actions and projects necessary to pursue the sustainability objectives published in the 2020-2025 Plan. The five strategic priorities of the Sustainability Plan are climate change and biodiversity, circular economy and innovation, responsible supply chain, enhancement of diversity, and support for local communities."
In 2024, the Moncler Group was rated for the second consecutive year with the highest score "Aaa" by MSCI ESG Research, which provides sustainability ratings of listed international companies and some private companies, evaluating them on a scale from "Aaa" to "Ccc," based on exposure to ESG risks specific to the sector of belonging and the ability to manage such risks compared to companies in the same sector.
The Moncler Group achieved the highest rating "A" in the 2024 global ranking compiled by CDP for its leadership in transparency and management of climate change issues.
For the sixth consecutive year, the company also confirmed its presence in the Dow Jones Sustainability World and Europe Best-in-Class Indices, maintaining the top position in the Textiles, Apparel and Luxury Goods sector with the highest score (90/100) in the S&P Global Corporate Sustainability Assessment 2024 (data as of October 17, 2024).
Strategy for the Coming Months
During 2025, Moncler will continue to strengthen the three complementary dimensions of the brand, Moncler Grenoble, Moncler Collection, and Moncler Genius, through distinctive events, initiatives, and marketing strategies aimed at realizing the full potential of each dimension in all regions. Moncler Grenoble, the dimension of the brand closest to the brand's DNA, "will continue to enhance its distinctive combination of performance and style through dedicated marketing initiatives and a wider collection suitable for all seasons," the statement reads.
Stone Island Aims to Stimulate Interest Among New Target Consumer Segments
2024 marked the beginning of a new chapter in Stone Island's evolution, with the presentation of its manifesto "The Compass Inside" and the launch of its first global advertising campaign. In 2025, the label, acquired by the Prada Group in 2020, will continue its journey to unleash the brand's full potential, increasing brand visibility globally through a more targeted marketing approach aimed at stimulating interest among new target consumer segments.
