Moncler Group, owner of Moncler and Stone Island, said on Tuesday that revenues increased 12% year-on-year to €880.6 million for the first quarter of 2026. By brand, Moncler revenues were up 12% to €766.5 million, while Stone Island revenues rose 11% to €114.1 million.
“What clearly emerged in the first quarter of the year goes beyond a strong revenue performance: it is the depth of the relationships that our brands continue to build with their communities around the world. In a global context shaped by conflicts and instability, both Moncler and Stone Island have shown strong energy and cultural relevance,” Remo Ruffini, who on April 1 transitioned from CEO to executive chair of the group, said in a statement. Bartolomeo Rongone assumed the chief executive role at the beginning of the month, but was not present on Tuesday’s call.
“As we move into the next phase of our journey, with Leo Rongone now on board, our focus is very sharp: staying true to who we are, never standing still, and keeping our brands’ integrity firmly at the center of every decision,” Ruffini continued. “In an increasingly complex external environment, we remain committed to staying agile and responsive, guided by our clear strategic vision.”
The quarter’s growth was driven by success at both brands across Asia and the Americas. For Moncler, Asia revenues were up 22% year-on-year to €433 million, driven by strong trends in China and South Korea, while America revenues were up 7% to €95 million. Moncler remains underpenetrated in the US, group chief corporate and supply officer Luciano Santel told investors. “In the main cities where we have a strong footprint, brand awareness is very strong. Though it is still weaker in minor cities, where we are starting to [open] some stores,” he added. Moncler underperformed in the EMEA (Europe, the Middle East, and Africa) region, down 1% to €238.5 million, primarily due to subdued tourism flows, despite local consumption remaining steady, according to the group.
Strategic planning and investor relations director Elena Mariani said the quarter was the best the company has ever seen for the Moncler brand in terms of brand impact and engagement, especially for its technical Moncler Grenoble line, which hosted a show and opened its second dedicated store in Aspen in February. The Winter Olympics, which took place in the middle of Q1, was another bright spot: Moncler Grenoble co-created Team Brazil’s uniforms with Brazilian artist Oskar Metsavaht.
Stone Island was up 25% in Asia to €35.4 million; Korea, Japan, and China each registered double-digit growth. America revenues rose 24% to €7.5 million, and EMEA revenues were up 3% to €71 million. “Stone Island is growing very nicely after a couple years of challenges and difficulties,” Santel said. “It is growing organically.”
Regarding the impact of the ongoing Middle East conflict, Santel said the region only makes up 2% of the group’s business, despite the slight drag on EMEA tourist spend. “Of course, that business is significantly down, but even the decline is not impacting materially our overall business,” he said.
Now, as Moncler’s biggest season comes to a close, the brand is looking ahead to summer 2026. The group is aiming to make Moncler an “all-year-round brand”, Santel told investors, kicking off with its Have a Puffy Summer campaign starring Northern Irish actor Jamie Dornan in a lightweight puffer jacket. “For the first time ever, we wanted to be very intentional about this current season when normally we are not as strong [we are] for winter,” Santel said. “We are very happy, because the feedback — and the media impact — has been very strong.”
Correction: Updated to reflect Stone Island’s correct revenue figure of €114.1 million for Q1 2026.
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