Moncler, the Italian luxury outerwear group, reported a 7% increase in revenues in the fourth quarter on a constant exchange rate basis, a result that exceeded analysts' expectations. Management attributed the outperformance to particularly robust sales in Asia and the Americas.
For the full year 2025, Moncler recorded revenues of 3.13 billion euros, up 3% at constant exchange rates and ahead of the company-compiled analyst consensus forecast of 3.06 billion euros. Despite the top-line improvement, operating profit for 2025 edged down slightly to 913.4 million euros, a decline of 0.3% from the prior year.
Last month, Moncler confirmed a planned leadership change at the top of the group. Remo Ruffini, the company's longtime chief executive, will hand over the CEO role in April to Bartolomeo Rongone, who currently runs the Kering-owned label Bottega Veneta. Speaking on a conference call with analysts, Ruffini framed the appointment as part of the company's evolution, saying: "The arrival of Leo (Bartolomeo) Rongone as a group CEO in April is a natural next step in our evolution, which will bring new energy to our already solid structure."
Ruffini also made clear that his move is not an exit from the company’s leadership: "But let me be clear, I’m not stepping down, I’m not stepping back. I will be executive chairman and continue to lead our creative direction and set the strategic directions of the group," he added.
The company reported its currency-adjusted sales increases explicitly at constant exchange rates, signaling that reported growth was measured excluding the impact of exchange rate movements. The disclosure of a specific dollar-to-euro conversion in the report noted that $1 equaled 0.8498 euros.
Investors and market observers will monitor how the incoming CEO's stewardship intersects with Moncler's regional momentum in Asia and the Americas and how the slight decline in operating profit is managed going forward.
Regional and market context
- Asia and the Americas were cited as the main drivers of quarter-on-quarter revenue growth.
- Full-year revenues exceeded the company-compiled analyst consensus, while operating profit registered a minor decline.
- Leadership succession is scheduled for April with the incumbent shifting to executive chairman.