eration Z and Millennial customers who aspire to the alliance of innovation and heritage that Moncler uniquely offers.

But in 2021, it wasn t just MONDOGENIUS. In October the Brand also launched the We love Winter campaign. At Moncler, we love winter. In fact, it s been our lifeblood since 1952. From the French Alps to the world, winter is one of our driving forces. Photographed by the Australian photographer and director Chris Colls and exhibited in capital cities across the world, the Fall/Winter 2021-2022 campaign is a testament to that love embracing multiple voices whilst reuniting fami- ly and friends in the Moncler spirit of creativity and collabo- ration. Amongst them, the American actresses Robin Wright and daughter Dylan Penn, the French music artist Lala&ce and her mother Noëlle, the Japanese designer Mai Ikuzawa and her sons Arto and Milo, the French flextro dancer Bats aka Mama- dou Bathily, and the models Mao Xiaoxing and Mika Schneider.

MONCLER DIGITAL The digital channel has become central to Moncler by strongly supporting business results and driving new special initiatives where the client was put at the centre of every decision, in order to best respond to market needs.

The Digital, Engagement and Transformation function that manages and coordinates the Moncler Digital Hub a de- partment aimed at guiding the digital transformation and spread- ing its culture in the Company is based on 5 strategic pillars: D-Commerce, D-Marketing, D-Experience, D-Intelligence and D-Strategy&Culture.

D-Commerce is responsible for achieving the online sales targets as well as detecting innovative solutions able to sustain the business growth in parallel with enhanced level of services. Thus, beyond the management of buying and merchandising, it deals with the development of special projects, new platforms and tools.

D-Marketing is responsible for expressing all the values and colorations of Moncler through tailored premium content to serve all consumer touch points.

D-Intelligence is responsible for improving performance, identifying growth opportunities through the analysis and man- agement of qualitative and quantitative data in order to maximise knowledge of the omnichannel consumers, intercept the demand of new trends and products to enhance the customer experience with the final objective of optimising investments and therefore maximise revenues.

D-Experience is responsible for improving the exchanges with consumers, simplifying their interactions on all channels and making each of these interactions a unique experience.

The fifth and final pillar, D-Strategy&Culture, is responsible for developing digital business value and for spreading a digital culture within Moncler.

As for social media networks, Moncler is on Instagram, Facebook, Twitter, LinkedIn, TikTok and YouTube in Europe and the Americas; WeChat, Weibo, Douyin, Bili Bili and RED in APAC; LINE in Japan and Kakao Talk in Korea.

In 2021, Moncler launched a new full omnichannel e-com- merce platform, which in addition to being technologically ad- vanced, also presents an innovative approach to the customer.

STONE ISLAND BRAND

STONE ISLAND COLLECTIONS At the forefront of the menswear, Stone Island redefines, with its point of view, the concept of man luxe, always contemporary and with a strong tendency to research and experimentation.

The Brand is characterised by its different iconic visual codes. Stone Island expresses itself not only for the use of its atypical branding, the Badge , a removable rectangular label, that exhibits the embroidery of the Stone Island Compass; but also, for the wide exploration of colour, with unique treatments and techniques, finishes and details of the garments and for its unique design lexicon.

Alongside Stone Island men collections, the Brand offers the Stone Island Junior collection declination of the Brand for children and teenagers from 2 to 14 years old.

STONE ISLAND RESEARCH AND DEVELOPMENT Four decades dedicated to textile research, experimentation, study of the garment s function and to innovation, often investi- gating worlds far from clothing, have made Stone Island a brand defined by its unique and distinctive research and as an essential point of reference for the world of apparel and design today.

Important challenges faced with the commitment of cre- atives who have expressed passion and enthusiasm for their work have managed to transfer their vision into the product, pushing the research on uncharted territories.

STONE ISLAND PRODUCTION The complete product development cycle is managed internally, at its headquarter in Ravarino (province of Modena).

Stone Island s mission has always sought product inno- vation through continuous deployment of know-how and all- around research on fibres, yarns, fabrics, finishes and dye whilst cultivating the ambition to offer a product that is unique in its category.

In order to achieve this mission, development has been carefully managed through an internal and integrated system in which modelling, prototypes and dyeing combine with estab- lished external partnerships in both research and execution.

The value chain is as much in the selection of accessory and component materials as in manufacture and dyeing, car- ried out under strict supervision of technicians of the Compa- ny at established partners that are aligned with the Company s ethical and regulatory codes.

Fabrics and yarns are supplied by the best Italian and for- eign companies, with a particular focus on Japan and Korea.

Manufacturing is in Italy, in the Mediterranean basin and in the Far East, at established third-party companies trained in the know-how needed to satisfy the Brand s standards of qual- ity and sustainability.

STONE ISLAND DISTRIBUTION The Stone Island brand is distributed globally both through the wholesale channel and with direct presence (retail stores). Fur- thermore, in some markets the Brand is managed by distribution contracts with qualified and long-standing partners, selected on the basis of their high knowledge of the fashion sector. The Brand is currently present in the most important department stores in the world, also with dedicated spaces (shop-in-shops), in the best multi-brand boutiques and in the main e-tailers, besides having developed a network of 30 directly managed mono-brand stores and the online store.

In line with the Group s strategy aimed at the integrated development of its distribution channels, Stone Island has be- gun a path that will lead the Brand to a greater control of distri- bution on international markets, through a progressive direct management of the markets currently managed by the dis- tributor and through the expansion of the DTC channel. On 30 December 2021, Stone Island set up a joint venture in Korea Stone Island Korea operating since 1 January 2022 of which Stone Island holds 51%, with the aim of directly managing the Korean distribution network, which as of 31 December 2021, had 23 mono-brand stores.

BOARD OF DIRECTORS REPORT36 37 MONCLER GROUP

2021BOARD OF DIRECTORS REPORT