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Luxury fashion brand Moncler is feeling the effects of a tougher global economy, but it’s managing to hold steady, for now. In the first half of 2025, Moncler reported a small increase in total revenue, even as international travel dipped and shoppers in key markets like Europe and Japan tightened their wallets.
From January to June, the company brought in €1.23 billion, which is up just 1% when adjusted for currency changes. Sales of the core Moncler brand also rose 1%, totalling about €1.04 billion.
Its other label, Stone Island, didn’t do quite as well. Overall, Stone Island’s revenue fell by 1%, though it bounced back with a 6% jump in the second quarter, some good news amid the slowdown.
Moncler’s sales slipped 2% in the second quarter, mostly due to weaker results in stores across Europe, the Middle East, Africa (EMEA), and Japan. However, sales in the Americas rose by 5%, as store performance improved.
While sales were mostly flat, profits dropped. The company’s operating income (EBIT) fell to €224.8 million, down from €258.7 million a year ago. Profit margins also shrank from 21% to 18.3%, partly because the company spent more on marketing earlier in the year.
Net profit, what the company earned after all expenses, dropped to €153.5 million, compared to €180.7 million last year.
Despite the headwinds, CEO Remo Ruffini says Moncler is staying the course. “The first half of the year reminded us how unpredictable and complex the world can be,” he said, noting the company will keep pushing forward despite economic uncertainty.
Moncler ended the period with nearly €1 billion in cash, even after handing out €345 million in dividends to shareholders. It also invested €82 million in new stores and infrastructure upgrades.
Looking ahead, Moncler says it’s staying focused on being flexible and continuing to invest in its brands, especially as the rest of 2025 looks uncertain due to rising global tensions and ongoing economic concerns.