Moncler Group posts 12% Q1 revenue growth on Asia rebound

Moncler Group reported first-quarter 2026 consolidated revenues of €880.6 million, a 12 percent increase at constant exchange rates (cFX) compared with the same period a year earlier.

The result marks a meaningful acceleration from 2025, when full-year group revenues grew just 1 percent at current exchange rates. In its Interim Management Statement, the company attributed the quarterly improvement to broad-based demand recovery across both brands and most geographies.

Moncler brand leads with DTC strength despite high comparable base

The Moncler brand contributed €766.5 million to group revenues in Q1, up 12 percent cFX year on year. Direct-to-consumer (DTC) – which covers directly operated stores, direct online and e-concessions – rose 14 percent cFX to €674.5 million.  The physical store channel continued to outrun the online channel, though the company noted that online trends were “improving sequentially.” Wholesale revenues reached €92.1 million, up 3 percent cFX, supported by higher re-orders for the Spring/Summer 2026 collection. The gains came despite ongoing rationalisation of the wholesale network: Moncler operated 47 mono-brand wholesale doors at March 31, down from 55 a year earlier.

Geographically, Asia (comprising APAC, Japan and Korea) was the standout, growing 22 percent cFX to €433.0 million, with China and Korea identified as the top performers. The Americas advanced 7 percent cFX to €95.0 million, supported by local consumption and a solid wholesale performance. EMEA declined 1 percent cFX to €238.5 million, as subdued inbound tourism and weak online demand continued to weigh on the region. 

Stone Island delivers broad-based gains in Asia and the Americas

Stone Island recorded Q1 revenues of €114.1 million, up 11 percent cFX, driven by a 17 percent cFX rise in DTC revenues to €60.6 million. All regions contributed positive DTC growth, with Asia and the Americas outperforming. The physical channel outpaced online across every region.

Wholesale revenues grew 4 percent cFX to €53.5 million, aided by a positive reception of the Spring/Summer 2026 collection. Asia was again the growth engine, advancing 25 percent cFX to €35.5 million, with strong double-digit momentum across all main markets. The Americas surged 24 percent cFX to €7.5 million. EMEA grew 3 percent cFX to €71.1 million, with Italy outperforming the wider region.

Rongone empowered as CEO; new share plans approved

In a separate resolution approved at the same board meeting, Bartolomeo “Leo” Rongone   was formally granted the executive powers attached to the CEO role, following shareholders’ confirmation of his directorship. Rongone had been appointed to the board by co-optation in February 2026.