Italian luxury fashion brand Moncler Group has generated consolidated revenues of €1.84 billion (~$2.13 billion) in the first nine months (9M) of 2025, flat at constant exchange rates (cFX) and down 1 per cent year-over-year (YoY) at current exchange rates.
Moncler brand revenues were €1.55 billion (~$1.8 billion), stable at constant exchange rates compared with 2024. In Q3 2025, revenues reached €514.2 million (–1 per cent cFX YoY), supported by sequential gains in both DTC and wholesale channels, Moncler Group said in a press release.
Asia’s revenues increased 3 per cent cFX to €752.6 million, driven by continued strength in China, partially offset by softness in Japan and Korea. Revenues in Europe, the Middle East and Africa (EMEA) declined 4 per cent cFX to €581 million, affected by subdued tourism flows despite a slight sequential improvement. Americas’ revenues rose 2 per cent cFX to €219.6 million, with Q3 growth of 5 per cent cFX driven by double-digit DTC sales.
Moncler brand’s direct-to-consumer (DTC) channel grew 1 per cent cFX to €1,255.4 million, maintaining stable performance through Q3 despite macroeconomic headwinds. Wholesale revenues fell 5 per cent cFX to €297.8 million, reflecting Moncler’s continued focus on distribution quality and network optimisation.
As of September 30, 2025, Moncler operated 294 directly operated stores (DOS), a net increase of seven since June 2025, including a new boutique in Austin and an expanded SKP location in Beijing. The brand also managed 49 wholesale shop-in-shops, five fewer than the previous quarter.
Stone Island recorded revenues of €288.1 million (~$334.1 million) in 9M 2025 (–1 per cent cFX), with Q3 revenues flat year-on-year. Performance was shaped by a robust DTC segment and a wholesale decline due to shipment timing differences between quarters.
Revenues in Asia rose 13 per cent cFX to €74.2 million, driven by strong momentum in China and Japan. EMEA declined 4 per cent cFX to €196.2 million, as robust DTC growth was offset by weaker wholesale sales. The Americas fell 11 per cent cFX to €17.7 million, though both channels improved sequentially in Q3. The DTC channel advanced 9 per cent cFX to €145.1 million, accounting for over half of total sales, while wholesale revenues dropped 9 per cent cFX to €143.0 million due to shipment timing differences but showed sequential improvement during the quarter.
Stone Island operated 92 directly operated stores and 11 wholesale mono-brand stores as of September 30, 2025. Notably, the brand relocated its flagship store in New York City during the quarter.
Meanwhile, in the third quarter (Q3), group revenues totalled €615.6 million (–1 per cent cFX YoY), with Moncler and Stone Island contributing €514.2 million and €101.4 million respectively. Both brands demonstrated sequential improvement in their direct-to-consumer (DTC) channels, reflecting effective execution amid subdued market demand.
“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,” said Remo Ruffini, chairman and CEO of Moncler Group.
“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,” added Ruffini. “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.”
Moncler continues to prioritise organic growth, direct engagement through its retail network, and the elevation of its wholesale distribution. The company also published its 2026 Corporate Events Calendar, available on its website under the Investors section, added the release.
“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,” said Ruffini.
Fibre2Fashion News Desk (SG)
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