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MONCLER ANNUAL REPORT AT 31 DECEMBER 2020BOARD OF DIRECTORS REPORT 3534

Japan (with 424K followers) and Kakao Talk in Korea (with 108 thousand followers).

WINDOWS DISPLAY

Windows displays in boutiques have always been a key part of the Brand s marketing strategy, exploring the interrelationships between art and creativity, interpreted as an expression of Moncler s identity. The ethos is one of boundless creativity while remaining true to the Company s heritage. The maturation of Moncler Genius has allowed the creative boundaries of the windows to expand to previously unexplored territories. As the content relates to the artistic eccentricities of the Moncler Genius partners, so the windows have been pushed in new directions, employing new technologies, whilst living coherently in the Moncler family. The result? Progressively distinct, strikingly dynamic windows that capture the eye of a new consumer whilst maintaining true to Moncler s DNA.

BRAND PROTECTION

Moncler dedicates energy and resources to safeguarding the value, uniqueness and authenticity of its products and to defend its intellectual and industrial property rights (IP), which are key elements for customer protection.

The Intellectual Property & Brand Protection (BP) internal department oversees administrative activities to protect Moncler s distinctive and commercial trademarks in countries and in goods categories of current and potential commercial interest, as well as the forms and elements characterising the products, product&process inventions, and copyright. In particular, 2020 saw an important implementation of the model portfolio following the license agreement signed with Interparfums (with launch expected in 2022) and the consequent entry into the perfume business. In fact, it was decided to deposit the design of the fragrance bottles in over 40 countries.

The enforcement of intellectual property rights and the fight against counterfeit include activities such as training, liaising with customs authorities and applying for relative customs intervention in numerous countries, monitoring and investigating the physical and online market, taking down counterfeit content online, coordinating the organisation of raids and seizures with local authorities in numerous countries and taking civil, criminal and administrative actions.

The pandemic that hit the entire globe in 2020 impacted the training sessions to the enforcement authorities held during the year, which were fewer compared to the trend that normally characterises the department s work. However, the latter managed to carry out 39 training sessions for customs officers and Italian and foreign enforcement authorities, with the tools that technology currently allows, maintaining a dialogue with them, aimed at increasing brand awareness.

In 2020, the constant activity to fight against counterfeit trade resulted in more than 110,100 fake products and over 277,200 fake accessories being seized, including logos, labels, buttons, zips, etc.

Enforcement of Moncler s IP rights online, which aims in particular at the removal of offers for the sale of counter- feit products, shutting down unauthorised online sites and

removing links and/or advertising from social networks, brought to important results, also through the extension of the activity to new sales platforms compared to those moni- tored up to 2019, for a total of 116. As for numerical data, in 2020 over 82,600 auctions of counterfeit products were shut down, almost 425 sites were obscured, approximately 17,000 links to sites selling non-original products were delisted from main search engines and more than 45,100 posts, ads and accounts promoting fake Moncler products through social networks were removed.

With a view to strengthening the strategy of the fight against online counterfeiting, Moncler has prepared a plan for the establishment of civil cases for counterfeiting in the United States against sellers who promote at an international level the sale of counterfeit products on digital platforms, thus giving a strong deterrent signal to counterfeiters.

Willing to increase customer protection even further, an anti-counterfeiting label has been adopted for all Moncler products, featuring the best technologies available on the mar- ket, in constant evolution. It consists of a unique alphanumeric code, a QRcode and NFC (Near Field Communication) tag. End- users can check their products on the website code.moncler. com. Where necessary, Moncler prepares expert reports for deceived customers attempting to recover the amount paid for a counterfeit product from their electronic payment service providers.

In addition, with the aim of raising awareness and in ternally training the departments most involved, Moncler has formalised Brand Protection procedures aimed at regulating the verification methods of stylistic contents and communication in a broad sense to reduce risks, including the reputational ones, by internally carrying out about ten dedicated training session.

The Group s commitment to industry associations saw Moncler involved in numerous activities in 2020, organised by leading national and international organisations involved in the fight against counterfeit and protecting IP, in particular INDICAM, UNIFAB, ECCK, QBPC, BPG.

the 4 Moncler Simone Rocha collection, nodding to the themes of dreamy horticulture referenced in the collection. And the #GirlUpChallenge was launched in association with 2 Moncler 1952 Woman, raising awareness of the Girl Up charity who empower girls through education.

And as Moncler Genius has opened the door to a new world of clients, so Customer Relationship Management (CRM) has seized the opportunity to develop. The new approach is highly targeted and highly personalised. Contact with clients is always specific, never generic, ensuring the right people hear about launches and events that matter to them. Finally, a new layer of luxury has been added to customer experience, with Very Important Clients being offered money-can t-buy trips that always adheres to the Moncler s hallmark quality. A uniquely authentic way for clients to connect with Moncler s DNA.

DIGITAL

2020 has been a challenging year under all aspects. The di gi tal channel has become central to Moncler by strongly supporting business results and driving new special initia- tives where the client was put at the centre of every decision, in order to best respond to market needs.

In 2020 Moncler has accelerated its digital transformation defining a new corporate organisation and announcing the direct management of its e-commerce, that has started with a successful migration in the United States and Canada in October 2020, with the rest of the implementation that will be progressively done and completed in 2021. The internalization is in line with an increasingly digitally integrated vision aimed at personalizing the experience and strengthening the relationship with the customer across all brand touchpoints. In addition, Moncler will launch a fully integrated omnichannel e-commerce platform in 2021 which, in addition to being technologically advanced, will take an innovative approach towards the client.

To support the evolution of Moncler s strategic vision and amplify digital opportunities, the Company has created in July 2020 a new Digital, Engagement and Transformation function, with the mission of implementing brand strategy across all digital channels, thus giving life to innovative client services and experiences, accelerating the presence in all forms of digital commerce, digital native content and diffusing a digital culture across the whole organisation.

The Digital Hub, the Company s internal department aimed at guiding the digital transformation and spreading its culture, has maintained its organisation divided in 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 remarkable 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. After the launch of the Korean market last year, on 6 October 2020 the internalization of moncler.com has concretely started with the two stores of the United States and Canada, for both site and commerce app. It has been a success with an average of +70% of orders placed YoY, further supported by introducing payment and delivery methods brand-new to the customers. Among the other omnichannel

services already in place, the Exchange feature is now available online and in-store.

D-Marketing is responsible for expressing all the values and colorations of Moncler through tailored premium content to serve all consumer touch points. In 2020, to face the global pandemic circumstances, the Digital Marketing strategy has been adapted to promptly support online business and omnichannel services, keeping always the focus on ONE project at 360° level and guaranteeing a smooth transition without registering any traffic drop, in particular through Search Engine Optimisation (SEO). During the year, it has been increased the reach in terms of new prospects thanks to social paid activations and e-tailers campaigns; existing clients have been reactivated through CRM targeted campaigns on social and search. The conversion has been maximized activating bid strategies on search engine, boosting the return on the investment. Good performance has been achieved also on direct marketing activations, thanks to a combined strategy on lead generation and communication frequency increase, keeping a consistent level of interest. Finally, special collaborations and partnerships with e-tailers have been conducted at a global level and integrated within the D-Marketing strategy.

D-Intelligence is responsible for improving performance, identifying growth opportunities through the analysis and management 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. In 2020, the Big Data project has been further developed, through the integration of all the key company s internal data sources, aiming at creating a unique, complete and accurate view of the brand and customers. The team built the single client s vision, a strategic project that will be fundamental for all functions. It will be strengthened with the creations of different levels of personas that are impacting Moncler s environment and will connect them to socio-cultural communities and tribes. Thanks to this visionary and cutting-edge approach, Moncler aims at upgrading the 360° customer journey, introduce advanced personalized functionalities, acquire new segments of clients and reach new audiences in key markets.

D-Experience is responsible for improving the exchanges with consumers, simplify their interactions on all channels and make each of these interactions a pleasurable experience. In 2020, the team worked on optimizing moncler.com and implementing special customer-centric omnichannel features that helped the Company best respond to market needs. Finally, several augmented reality experiences were tested at app and website level and mini-websites were created to grow organic traffic from search engines.

The fifth and final pillar, D-Strategy & Culture, is responsible for developing digital business value and for spreading a digital culture within Moncler. 2020 has been a year of great change, and this pillar has contributed at putting the basis for a new digital transformation accompanied by a solid long-term strategy.

As for social media networks, Moncler is on Instagram, Facebook, Twitter, LinkedIn, TikTok and YouTube (in 2020 with 3.5 million, 2.9 million, 1.1 million, 213 thousand, 195 thousand and 27 thousand followers respectively); WeChat, Weibo, Douyin and RED in APAC (respectively with 496 thousand, 431 thousand, 32 thousand and 27 thousand followers); LINE in

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