Moncler posts a stable quarter at constant exchange rates. The European decline of its main brand contrasts with the growth of Stone Island.
The stability of the Moncler group masks a geographic imbalance. According to the Reuters dispatch distributed by Euronext on 21 October, quarterly sales reach approximately €606 million and remain stable at constant exchange rates. The slowdown in tourist spending in Europe weighs on the period.
The brands do not move at the same pace
At constant exchange rates, Moncler falls 1%, while Stone Island rises 5%. For the Moncler brand, Europe is down 8% and the Americas are up 2%. These variations distinguish both the group’s signatures and the places where the sale takes place.
The dispatch also recalls the limited weight of this quarter in a business geared to winter. It would therefore be premature to treat it as a definitive measure of the financial year or of the reception of the whole season.
The place of purchase matters as much as the client
For a house present in several regions, lower tourist spending raises a question of location: is the client buying elsewhere, later, or less? The geographic figures alone do not allow us to decide between these hypotheses.
This uncertainty deserves to remain visible. Attributing the European decline immediately to a loss of appeal of the product would go beyond the published evidence. The next observation point will be the winter season, with a careful reading of brands and regions. The quarter delivers a precise commercial signal, whose reach still depends on the calendar and on the movements of clienteles.
Sources — editorial verification
Moncler reports flat Q3 revenue, held back by weaker tourist spending in Europe — 21 October 2026. Accessed 3 November 2026.
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