MONCLER ANNUAL REPORT AT 31 DECEMBER 2020BOARD OF DIRECTORS REPORT 2928

STRENGTHEN THE DIGITAL CULTURE

Think digital while defining and implementing the Group s strategy is an increasingly fundamental goal for Moncler who believes in the importance of the cross-fertilisation across divisions and in particular, we believe that digital is not only an important tool to generate revenues but, above all, is the way we are going to implement our present and future strategy.

FOLLOW A SUSTAINABLE GROWTH PATH TO CREATE VALUE FOR ALL STAKEHOLDERS

Moncler has been progressively strengthening its commit- ment to long-term sustainable and responsible growth, fully integrated into the Group s strategy to meet stakeholder expectations and create shared value. The new sustainability plan of the Group focuses on five strategic pillars: act on climate change, think circular, be fair, nurture genius and giving back.

BUILD A GLOBAL GROUP ABLE TO CONTINUOUSLY EVOLVE WHILE KEEPING ITS UNIQUE POSITIONING

Under the guidance of Remo Ruffini, Moncler has followed a growth strategy inspired by two key principles: to become a global Brand with no filters with the market and to continuously evolve while remaining true to itself. With the acquisition of Stone Island, Moncler will share its knowledge and experience to fully capture the important growth potential in particular of the Americas and Asian markets, maintaining and strengthening the unique posi tion- ing of Stone Island, which has its identification matrix in the culture of research and experimentation.

SUPPORT THE DEVELOPMENT OF DISTRIBUTION CHANNELS WITH AN OMNICHANNEL APPROACH

Engaging directly with clients through every channel and touch point, involving them, understanding their expectations even when unspoken and creating the human warmth that has always characterised the Brand in its physical and virtual stores, are the cornerstones of the relationship that Moncler strives to develop with its clients to never stop surprising them. Today Moncler is pursuing a strategy of integrated development of its distribution channels, both physical and digital. Stone Island is starting a journey that will lead the Brand to gain greater control over all markets, especially through the expansion of the DTC channel (direct to consumer).

Genius, rigour, multiplicity, capability to innovate while remaining true to itself and urge to seek for the extraordinary in the ordinary have always been the creed of the Group. Moncler leverages change to grow stronger as it continues to explore both known and new avenues, seeking constant dialogue with an ever-broader client base, and has in its flexibility the capacity to pursue its goals in an ever-changing environment.

STRATEGY STRENGTHEN, TOGETHER WITH STONE ISLAND, THE NEW VISION OF LUXURY

United by beyond fashion, beyond luxury philosophy, Moncler, together with Stone Island, will strengthen its ability to interpret the evolving cultural codes of the new generations offering them a new concept of luxury, far from the traditional stereotypes. A concept that embraces the search for experientiality, inclusivity, a sense of belonging to a community and the cross-fertilisation of meanings and worlds including those of art, culture, music and sport. The union will strengthen the competitiveness of the two Brands while fully respecting their identity and autonomy and accelerating their development process.

And that s exactly its continuous desire to evolve, also seeking for new challenges, the desire to dialogue with new consumers, the desire to change even when everything goes well, which led to the acquisition of Stone Island, a casual menswear brand, established in 1982, which has become a symbol of extreme research on fibres and textiles, through the continuous experimentation of dyes and treatments on the finished garment. A new journey has begun for Stone Island, which will lead the Brand to reach its full potential, while maintaining its strong brand identity. Moncler group strategy is underpinned by five pillars.