Moncler
MONC.MI · Euronext Milan. Prices to 23 Oct 2026. Updated 25 Oct 2026.
Moncler and Stone Island. Winter heavy, so the fourth quarter is the big one.
Company health
Weakening
- Sales. Constant currency growth, Q3 2026: 0%stable
- Shares. −22.3% YTD vs STOXX Europe 600 +7.3%: −29.6 ptsweakening
Same method as the Luxury Health Check: growth above 3% scores +1, below 0% scores −1; shares more than 5 points ahead of the STOXX Europe 600 year to date score +1, more than 5 points behind score −1. Total −1. Watch exports are a sector signal, so they are left out here.
Key numbers
| Quarter | Revenue | Growth | Released |
|---|---|---|---|
| Q4 2025 | €1,290.8m | +7% | 19 Feb 2026 |
| Q1 2026 | €880.6m | +12% | 21 Apr 2026 |
| Q2 2026 | €409.3m | +5% | 22 Jul 2026 |
| Q3 2026 | €605.5m | 0% | 21 Oct 2026 |
Growth is constant currency, as the company reports it. Download CSV
| Margin and valuation | Value | Source |
|---|---|---|
| EBIT margin, H1 2026 | 19.0% | source |
| EBIT margin, FY 2025 | 29.2% | source |
| Valuation (P/E, yield) | not yet verified |
Reporting lines
Revenue by brand, € million (constant currency growth)
| Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|
| Moncler | 1,167.7 (+6%) | 766.5 (+12%) | 323.1 (+3%) | 499.6 (−1%) |
| Stone Island | 123.1 (+16%) | 114.1 (+11%) | 86.2 (+11%) | 105.9 (+5%) |
| Group | 1,290.8 (+7%) | 880.6 (+12%) | 409.3 (+5%) | 605.5 (0%) |
Stone Island Q4 and Q2 euro amounts are group minus Moncler brand. Source. Download CSV
Moncler brand growth by region, constant currency
| Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|
| Asia (incl. Japan, Korea) | +11% | +22% | +12% | +5% |
| EMEA | −3% | −1% | −8% | −8% |
| Americas | +9% | +7% | +4% | +2% |
Quarterly regional growth as stated in the text of each release. Source. Download CSV
What management said
Q3 2026 Tone: cautious
Released 21 Oct 2026. Tone vs prior quarter: Moncler brand turned slightly negative; EMEA down 8%. Release.
- Group flat at constant currency. source
- Moncler brand €499.6m, −1%; Stone Island €105.9m, +5%. source
- Moncler brand DTC −2%, hit by weak tourist flows in EMEA. source
“In the third quarter, our industry continued to navigate an extremely complex environment.”
Remo Ruffini, Executive Chairman, source
Call: A third party transcript of the 21 Oct 2026 call is listed online but has not been reviewed, so no call quotes are used.
Q2 2026 Tone: cautious
Released 22 Jul 2026. Tone vs prior quarter: Growth slowed from 12% and management called the environment hard to predict. Release.
- Group +5%; Moncler brand +3%, Stone Island +11%. source
- H1 EBIT margin 19.0% vs 18.3% a year earlier. source
- EMEA −8% on softer tourist flows. source
“The operating environment remains complex and hard to predict.”
Remo Ruffini, Executive Chairman, source
Call: No public call recording or transcript reviewed for this version. Not available here.
Q1 2026 Tone: confident
Released 21 Apr 2026. Tone vs prior quarter: Strong start, Asia +22%. Release.
- Group +12%; Moncler brand DTC +14%. source
- Asia +22% at the Moncler brand, led by China and Korea. source
- Leo Rongone joined as Group CEO. source
“In a global context shaped by conflicts and instability, both Moncler and Stone Island have shown strong energy and cultural relevance.”
Remo Ruffini, source
Call: No public call recording or transcript reviewed for this version. Not available here.
Q4 2025 Tone: confident
Released 19 Feb 2026. Tone vs prior quarter: DTC accelerated into year end. Release.
- Group +7%; Moncler brand +6%, Stone Island +16%. source
- 2025 EBIT margin 29.2% vs 29.5%. source
- All regions improved in the quarter. source
“This focus delivered a solid year‑end performance, with both Moncler and Stone Island gaining traction across channels and key markets, despite a demanding comparable base.”
Remo Ruffini, Chairman and CEO, source
Call: No public call recording or transcript reviewed for this version. Not available here.
Annual report. FY 2025 results (19 Feb 2026). Full year release used as the annual summary. The annual report has not been reviewed.
Not yet verified: Valuation: not yet verified. Call commentary: not reviewed.
Sources
- Q3 2026 release
- Q2 2026 release
- Q1 2026 release
- Q4 2025 release
- Share prices: Yahoo Finance daily closes
See also: alternative luxury indicators and the data hub.
Last updated 25 Oct 2026. Quotes are copied verbatim from the linked releases.