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Moncler (MONC) investor relations material
Moncler Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
9M 2026 revenue reached €1,895.4m, up 6% YoY at constant FX; Q3 revenue was €605.5m, flat YoY.
Q3 Moncler brand revenue fell 1% while Stone Island grew 5%; performance reflected softer DTC traffic and a complex industry environment.
Financial highlights
9M consolidated revenue increased 3% at current exchange rates and 6% at constant FX, from €1,841.3m in 9M 2025.
9M Moncler brand revenue was €1,589.2m, up 6%; Stone Island revenue was €306.2m, up 8%.
Q3 revenue was €499.6m for Moncler, down 1% at constant FX, and €105.9m for Stone Island, up 5%.
9M DTC revenue rose 6% to €1,290.8m for Moncler and 11% to €155.9m for Stone Island; wholesale rose 3% to €298.5m and 6% to €150.3m, respectively.
Outlook and guidance
FY26 Moncler wholesale revenue is expected to be flattish; Stone Island wholesale is expected to be flat for FY26, with a double-digit Q4 decline from delivery timing effects.
FY27 Moncler space contribution remains low- to mid-single digit, implying ~4%; planned pricing growth is low-single digit, with mix effects uncertain.
A 29% operating margin remains an ambition, conditional on top-line performance meeting plan; no firm FY26 margin forecast was given.
Spring/summer investment will increase next year, with more stores carrying the full collection and greater product depth; investment is expected to rise further the following year.
- H1 2026 revenues up 9% cFX to €1.29B, EBIT margin 19.0%, strong Asia and Americas growth.MONC
H1 2026 - Q1 2026 revenues up 12% at constant FX, driven by DTC and Asia, with new stores and share plans.MONC
Q1 2026 - FY2025: €3.13B revenue, 29.2% EBIT margin, strong Q4, €1.40 dividend, Asia/Americas led growth.MONC
H2 2025 - FY 2024 revenues rose 7% to €3.1bn, led by DTC growth and strong sustainability performance.MONC
Corporate presentation - H1 2025 saw modest revenue growth, margin pressure, and strong cash amid global uncertainty.MONC
H1 2025 - 9M 2024 revenues grew 6% to €1.87B, with DTC strength offsetting wholesale declines.MONC
Q3 2024 - H1 2024 revenues up 11% CFX, EBIT margin 21%, Moncler strong, Stone Island down.MONC
H1 2024 - Q1 2025 saw 1% revenue growth, strong DTC, and Asia outperformance amid wholesale decline.MONC
Q1 2025 - Revenues hit EUR 3.1B, DTC surged, EBIT margin 29.5%, and cash, dividend, and ESG all strong.MONC
H2 2024
Next Moncler earnings date
Next Moncler earnings date
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Frequently asked questions
Luxury clothing since 1952
You have most certainly seen someone wear the iconic Moncler down jacket or any of their vests, accessories, and polo shirts. Moncler has its name and origins in a mountain village near Grenoble - Monestier-de-Clermont, where René Ramillon and André Vincent founded the company in 1952. Their renowned down jackets and garments were originally used to protect workers and expeditioners against the harshest climates.
In 2003, the almost-bankrupt Moncler was acquired by the Italian entrepreneur Remo Ruffini, who had worked as a creative consultant in its then-parent company since the turn of the millennium. Ruffini set out to transform the company and launched a strategy of globally expanding the jackets and garments originally known as ideal for tough expeditions into the luxury industry. This is in line with the shift the company made into the city in 1980, becoming the iconic garment of the new generation. And the brand continues to be built on heritage, uniqueness, quality, and innovation.
Equipping the Italian K2 expedition
Fun fact: In 1954, Moncler equipped the Italian expedition of K2 - the world’s second-highest mountain. A showcase of the quality and prestigious history of Moncler products. Today Moncler operates roughly 240 retail stores and 70 wholesale stores across the globe. The majority of its revenue stems from Direct To Consumer (DTC) sales, accounting for around 80 percent of the total revenue.
Their collections are divided into three parallel dimensions:
Moncler
Moncler Grenoble
Moncler Genius
Moncler are innovating and creating products for the sporty and Aprés-Ski customers, as well as bringing together different interpretations of the brand under the same roof. Since 2020, the very popular Stone Island brand is also a part of Moncler.
Moncler has increased its revenue from €580 million to €2.3 billion in the last ten years, with gross margins and ROIC averaging over 75 percent and 27 percent, respectively, during the same period.
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