Moncler sales top €3.1 billion thanks to DTC growth
Moncler Group, which owns both Moncler and Stone Island, posted a 7% revenue rise to €3.1 billion (£2.6 billion) in the year to 31 December 2024.
Revenues at the Moncler brand were up 8% to €2.7 billion (£2.2 million), with fourth quarter revenues hitting £1.13 million.
This was mostly driven by the acceleration of the direct-to-consumer (DTC) channel, which was up 9% "despite a tough comparable base and still volatile market trends". Growth improved in all regions compared with the previous quarter.
EMEA sales jumped 35% to €949.3 million (£790.4 million), propelled by "robust demand" from tourists and locals.
Sales at Stone Island declined 1% to €401.6 million (£334.4 million). EMEA revenues were down 7% to €268.9 million (£223.9 million). Revenues in Asia increased 23% to €105.2 million (£87.6 million), led by "strong" performance in Japan and positive trends in the Chinese market. However, Korea experienced weaker trends relative to the rest of the region.
The group posted EBIT of €916.3 million (£763 million), up 29.5% compared with the previous year.
The group is on a seemingly upward trajectory, posting half-year revenues of €1.13 billion (£973 million) for the six months to 30 June 2024. This was up 24% compared to €918.4 million (£786.8 million) in the same period in the year prior.
Remo Ruffini, Moncler Chairman and CEO, commented: "In 2024 our group achieved remarkable results and showed strong resilience in a complex and volatile environment. Both Moncler and Stone Island delivered double-digit growth in the DTC channel, driving Group revenues over €3.1 billion while maintaining a resilient 29.5% EBIT margin, underscoring the strength of our business model and operational discipline.
"As we move into 2025, while the global macroeconomic context remains uncertain, we are confident in our ability to navigate evolving market dynamics. Inspired by our heritage, our passion for innovation, and our ambition to push boundaries beyond conventions, we are shaping the future of our brands to drive sustainable growth and create long-term value."
