Moncler Group, an Italian luxury fashion brand, has generated consolidated revenues of €3.11 billion (~$3.26 billion) in fiscal 2024 (FY24) ended December 31, an increase of 7 per cent at constant exchange rates, and (+4 per cent at current exchange rates) compared with €2.98 billion in 2023. The consolidated gross profit was equal to €2,426.6 million (~$2,540.8 million), with an incidence on revenues of 78.1 per cent compared with 77.1 per cent in 2023.

Selling expenses reached €937.3 million in FY24, compared with €868.1 million in FY23, with a 30.2 per cent incidence on revenues, higher than FY23 due to the progressive shift toward a more direct-to-consumer (DTC) led business model. General and administrative expenses were €351.7 million, with a 11.3 per cent incidence on revenues, compared with €331.2 million in 2023 (11.1 per cent on revenues), reflecting continuous investments in the organisation, Moncler said in a press release.

Channel-wise, the DTC channel recorded revenues of €2,331.9 million (~$2,439.2 million) in 2024, up 11 per cent compared with 2023. The physical channel continued to outperform the online channel, whose performance remained weak in the fourth quarter, albeit improving substantially compared with the previous quarter. Meanwhile, the wholesale channel recorded revenues of €375.4 million (~$392.7 million), a decline of 7 per cent YoY.

Group EBIT was €916.3 million with a margin of 29.5 per cent, compared with €893.8 million in 2023 with a margin of 30.0 per cent, showing resilience despite a more challenging trading environment.

The Moncler brand reported total revenues of €2.71 billion, reflecting a 5 per cent increase at current exchange rates and an 8 per cent increase at constant exchange rates compared to €2.57 billion in 2023. Asia remained the largest market for this brand, generating €1.38 billion in revenues, up 7 per cent from €1.29 billion in the previous year. Europe, the Middle East, and Africa (EMEA) contributed €949.3 million, representing a 4 per cent increase from €910.5 million in 2023. The Americas recorded €379 million in revenues, growing 2 per cent from €371.3 million in the prior year.

As for the Stone Island brand, it generated a revenue of €401.6 million in FY24, witnessing a decline of 1 per cent (-2 per cent at current exchange rates) compared with €411.1 million in 2023.

“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 per cent EBIT margin, underscoring the strength of our business model and operational discipline. Over the past year, we have doubled down on what makes our brands truly distinctive,” said .

“Meanwhile, Stone Island continued to reinforce its unique identity through a series of powerful brand initiatives, deepening connections with both new and loyal communities. 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,” added Ruffini.

The group saw a solid performance in Q4 (+8 per cent YoY) mostly driven by the acceleration of the DTC channel, up 9 per cent YoY, despite a tough comparable base and still volatile market trends. Q4 revenue were up 10 per cent compared with the same period last year, with all regions accelerating. The DTC channel continued its solid double-digit growth path.

Fibre2Fashion News Desk (SG)