Moncler has evolved from humble beginnings into a powerhouse of uber-luxury fashion — a journey marked by resilience, innovation, and bold creativity. With Moncler Group announcing strong financial results for 2024, it’s a perfect time to reflect on the brand’s remarkable transformation.
Moncler Group — owner of Moncler and Stone Island — reported a 7% increase in full-year profits, reaching just under £2.6 billion by the end of 2024. Revenues rose 4%, maintaining the brand’s steady climb.
The Moncler brand itself saw an 8% revenue boost, hitting £2.2 billion, driven by a strong Q4 performance and a booming direct-to-consumer (DTC) channel. Notably, the EMEA region (Europe, the Middle East, and Africa) stood out, with sales soaring 35% to £790 million, fueled by demand from both tourists and locals.
Founded in 1952 by René Ramillon in the mountains near Grenoble, Moncler originally produced down-filled sleeping bags and tents. The now-iconic down jacket was designed to protect workers from the cold but gained wider fame when French mountaineer Lionel Terray asked Ramillon to create extreme-weather gear.
By the 1980s, Moncler’s brightly colored jackets became a bold fashion statement among city youth. However, the brand struggled in the ’90s under Fin.part’s ownership.
A turning point came in 2003 when Italian entrepreneur Remo Ruffini acquired a majority stake in Moncler. His vision was clear: transform Moncler from functional mountain wear into a symbol of modern luxury. Collaborations with designers like Alessandra Facchinetti and Thom Browne ushered in what Ruffini called the “era of the global duvet.”
By 2008, Moncler’s revenue hit £246 million, climbing to £302 million in 2009 despite the global financial crisis. The 2013 IPO on the Milan Stock Exchange was a massive success, with shares soaring 47% on the first day of trading. The 2018 launch of Moncler Genius pushed creative boundaries, allowing designers to reinterpret the brand’s identity.
Founded in 1952 by René Ramillon in the mountains near Grenoble, Moncler originally produced down-filled sleeping bags and tents. The now-iconic down jacket was designed to protect workers from the cold but gained wider fame when French mountaineer Lionel Terray asked Ramillon to create extreme-weather gear.
By the 1980s, Moncler’s brightly colored jackets became a bold fashion statement among city youth. However, the brand struggled in the ’90s under Fin.part’s ownership.
A turning point came in 2003 when Italian entrepreneur Remo Ruffini acquired a majority stake in Moncler. His vision was clear: transform Moncler from functional mountain wear into a symbol of modern luxury. Collaborations with designers like Alessandra Facchinetti and Thom Browne ushered in what Ruffini called the “era of the global duvet.”
By 2008, Moncler’s revenue hit £246 million, climbing to £302 million in 2009 despite the global financial crisis. The 2013 IPO on the Milan Stock Exchange was a massive success, with shares soaring 47% on the first day of trading. The 2018 launch of Moncler Genius pushed creative boundaries, allowing designers to reinterpret the brand’s identity.
While Moncler stole the spotlight, Stone Island — fully acquired by Moncler in 2021 — faced a more complex year. Full-year revenues dipped 1% to £334 million, but Q4 showed promise with a 10% uptick. The DTC channel grew by 15%, while wholesale, though down 1%, improved compared to earlier quarters.
In Asia, Stone Island’s revenues rose 23% to £88 million, thanks to strong performances in Japan and a rebound in China, though Korea remained a challenging market.
In 2024, Moncler Group achieved impressive results, with both brands seeing double-digit growth in the DTC channel, pushing total revenues past £2.2 billion and securing a 29.5% EBIT margin. This reflects the group’s robust business model and operational strength.
Notably, luxury giant LVMH — home to brands like Louis Vuitton, Dior, Fendi, and Celine — acquired a 10% stake in Double R, the investment vehicle that owns Moncler, further cementing its place in high fashion.
Looking to 2025, the group remains confident in its ability to adapt and innovate. However, with the ever-evolving economic climate and shifting consumer trends, it remains to be seen whether Moncler can sustain its sharp rise. One thing is certain — all eyes are on Moncler as it navigates the future of luxury fashion.
