MONCLER: NINE-MONTH REVENUES ROSE 6% AT CONSTANT RATES TO €1,895.4M; THE THIRD QUARTER WAS FLAT AND MONCLER EMEA FELL 8%
By Pau Almar · Published
9M 2026 · 21 OCTOBER 2026
Moncler Group reported revenues of €1,895.4m for the nine months to 30 September 2026 (€1,841.3m), up 6% at constant exchange rates and 2.9% at current rates. The Moncler brand sold €1,589.2m, up 6% at constant rates, and Stone Island €306.2m, up 8%. The release carries no income statement, balance sheet or cash flow statement, and no guidance.
Third-quarter revenues were €605.5m against €615.6m a year earlier: down 1.6% at current rates and flat at constant rates. Group constant-rate growth therefore ran at 9% in the half, 5% in the second quarter and 0% in the third. The Moncler brand fell 2.8% at current rates to €499.6m; Stone Island rose 4.4% to €105.9m.
// KEY NUMBERS
9M 2026 · nine months ended 30 September 2026
| Revenue | EUR 1,895.4m |
|---|---|
| Reported growth | +3% |
| Constant-currency growth | +6% |
Over nine months, Moncler-brand Asia added €70.1m, 129.5% of the group's €54.1m increase, and its share of brand revenues moved from 48.5% to 51.8%. Moncler EMEA fell by €34.2m. In the third quarter EMEA fell 8% at constant rates, as in the second, which the company attributes to softer local demand and subdued tourist flows; it does not quantify tourist flows.
Moncler-brand direct-to-consumer revenues fell 2% at constant rates in the third quarter and supplied the whole of the brand's decline. Stone Island's wholesale channel grew 7% in the quarter, which the company says reflects "a different timing of deliveries in Q3 vs. Q4".
The full-year 2026 results will show fourth-quarter growth against a base of €1,290.8m and +7% in the fourth quarter of 2025, Moncler EMEA against the -8% of the second and third quarters, and whether Stone Island wholesale reverses the delivery timing the company described.
Source: Moncler S.p.A., Interim Management Statement for the first nine months of 2026, press release, 21 October 2026 ↗
Analysis by Pau Almar, VGR.
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