Moncler, the Italian luxury outerwear group, reported a 1% year-on-year decline in second-quarter revenue at constant exchange rates as it blamed falling tourist expenditure that hit its core brand, especially in Europe and Japan.
The firm added that sales of the Moncler brand in Asia were flat quarter on quarter, driven predominantly by softer tourist traffic in Japan. Revenues dipped 8% in the Europe and Middle East region, while activities in the Americas continued to stay positive.
For the year to date, consolidated revenues totaled US $1.41 billion, within market consensus. Operating profit for the period fell 13% to US $ 244.65 million, just ahead of analysts’ estimates. This was partly due to increased marketing spending front-loaded during the first half of the year.
As it looked to the future, Moncler mentioned ongoing global uncertainty in a statement, saying, “Entering into the second half of 2025, the economic and geopolitical situation remains extremely uncertain.” It added that it continues to be committed to staying flexible in operations while still investing in people, infrastructure, and brand.
Moncler also controls the luxury skiwear brand Stone Island. The group’s performance captures wider difficulties in the luxury industry, which is struggling with a long-term slowdown. Industry giants LVMH and Kering are also likely to report additional sales falls, as the global luxury industry continues to face headwinds due to geopolitical tensions and trade disruptions.
