Moncler SpA released annual results “above market expectations” on Thursday afternoon as it detailed ongoing sales increases and a rise in profits, with the Moncler brand strong for much of the year and Stone Island improving in the final quarter.

Consolidated revenues increased 7% at constant exchange rates (CER) and 4% on a reported basis, hitting just under €3.109 billion.

The Moncler brand saw its revenues rising 8% CER and 5% reported to €2.707 billion. It enjoyed a “solid performance” in the fourth quarter (up 8% CER) “mostly driven by the acceleration of the Direct-To-Consumer channel”, which was up 9% CER, “despite a tough comparable base and still volatile market trends”. Growth improved in all regions compared with the previous quarter.

Stone Island was less buoyant for the year as a whole but much stronger in Q4. For the full year, revenues actually fell 1% CER and 2% reported to €401.6 million. But in Q4, they rose 10% CER with all regions accelerating. The DTC channel was up a healthy 15% CER in the quarter and although the wholesale channel still dipped 1%, that was a better performance than the rest of the year.

So what did that all mean for profits? Group EBIT rose to €916.3 million from €893.8 million, and while the EBIT margin was down very slightly (at 29.5% compare to 30% a year earlier) it was still “resilient”, especially given the tough environment.

Group net profit rose 5% to €639.6 million and the group had a healthy cash position.

Chairman and CEO Remo Ruffini was understandably upbeat: “In 2024 our group achieved remarkable results and showed strong resilience in a complex and volatile environment… underscoring the strength of our business model and operational discipline.

“Over the past year, we have doubled down on what makes our brands truly distinctive. The events of Moncler Grenoble in St. Moritz and Moncler Genius in Shanghai — the most impactful one in the brand’s history — brought our disruptive creativity to life, redefining the concept of brand experience. Meanwhile, Stone Island continued to reinforce its unique identity through a series of powerful brand initiatives, deepening connections with both new and loyal communities.

“As we move into 2025, while the global macroeconomic context remains uncertain, we are confident in our ability to navigate evolving market dynamics. Inspired by our heritage, our passion for innovation, and our ambition to push boundaries beyond conventions, we are shaping the future of our brands to drive sustainable growth and create long-term value.”