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Moncler Group | Annual Report 2024 Board of Directors’ Report 106 Moncler Group | Annual Report 2024 Board of Directors’ Report 107

[SBM–1] Strategy, business model and value chain

The Moncler Group, with the Moncler and Stone Island brands

(Brands), stands out for its unmistakably stylish product of fering.

The product range includes technical and high-end clothing,

such as jackets, down jackets and sweaters, as well as accessories,

footwear and bags.

Moncler of fers products with a unique design, of the highest

quality and constantly evolving, always maintaining

a strong consistency with the Brand’s DNA. The collections

have three dimensions: Moncler Collection, Moncler Grenoble

and Moncler Genius.

Stone Island has always focused on fabric technology

and experimentation, aiming for functionality, which translates

into an immediately recognisable impression in terms of cut,

shape, material and colour. Alongside Stone Island Men’s collections,

the Brand of fers the Stone Island Junior collection – a dedicated

line for children and teenagers aged two to 14. Stone Island’s

of fering, in addition to the Main collection, is divided into

th

ree sub-collections, each oriented to meet the needs of dif ferent

market segments: Stone Island Ghost, totally monochromatic

garments with sophisticated aesthetics;

Stone Island Marina, strongly inspired by the naval world and

garments in the Brand’s archive; and Stone Island Stellina, which

of fers looks with high-performance features and essential design.

Both Brands combine tradition, quality and innovation, driven

by the desire to continually evolve to remain contemporary.

This evolution is also ref lected in the Group’s commitment to

sustainability: in recent years, the collections have been developed

by progressively introducing lower environmental impact

raw materials (recycled, organic or certif ied in line with specif ic

standards) compared to conventional ones, while research has

been

directed towards ever more environmentally friendly solutions.

The Moncler Group distributes the collections, always

in compliance with applicable local legislation, in over 70 countries

through a network that includes directly operated physical

and digital stores, selected multi-brand retailers, shop-in-shops

within department stores and airports online luxury multi-brand

retailers etailers Over the reference year the Group recorded

growth across all Regions in which it operates further

strengthening the link with its communities through targeted

campaigns and dedicated events

The international presence of the Moncler Group is ref lected

in the distribution of its employees The EMEA Region including

Italy hosts the majority of the workforce with 5429 employees

66 of the total due to the presence of the corporate

headquarters of Moncler and Stone Island in addition to the Moncler

production site in Romania which alone represents 24 of the

workforce of the entire Region In the Americas Region the Group

employs 576 employees 7 of the total and 2170 in Asia

27

of the total See also pages 250 311312

The Moncler Group strategy is underpinned by four main strategic

pillars: being the expression of a concept of luxury that goes

beyond traditional stereotypes and that interprets developments

in the cultural codes of the new generations; continuing

to fully exploit the potential of its Brands globally; developing

an omnichannel model that combines a direct relationship with

the consumer and strong digital integration; and, lastly, promoting

sustainable growth, embedding sustainability into its business

model and creating value for all stakeholders.

The Moncler Group has adopted a business model, described

below, which allows it to directly control the highest value-added

phases of the value chain, from production to distribution,

to ensure optimal management and a consistent, high-quality

client experience.

Production and procurement

Moncler internally manages the entire creative process, from

the research and selection of raw materials to prototyping and

quality control. Production takes place through a combination

of internal resources and collaborations with façon manufacturers,

particularly for outerwear and knitwear. In 2020, Moncler started

a process of partial internalisation of production, a strategic

decision to strengthen control over the production cycle and ensure

excellence through cutting-edge technologies. This approach

aims to protect company know-how, consolidates internal expertise

and strengthen Research and Development to drive product

innovation, while maintaining the agility necessary to respond

quickly to market needs. The Company owns a production site

in Romania, a “smart factory” in Trebaseleghe (Padua) and a new

kni

twear plant in Padernello di Paese (Treviso). For the supply

of raw materials, Moncler carefully chooses materials that meet

the highest quality standards, in line with its sustainability

targets. Stone Island manages the product development cycle

internally, at its of f ice in Ravarino (Modena), focusing

on innovation through research into f ibres, yarns, f inishing and

dyeing. The Company has adopted an integrated system

that combines modelling prototyping and dyeing supported

by external partnerships for research and execution The

selection of materials and manufacturing processes are closely

supervised by internal technicians with suppliers based in Italy

Japan and South Korea

[GOV–5] Risk management and internal controls

over sustainability reporting

The Sustainability Statement was subjected to a series of both

internal controls, through procedures that involved the data

owners and the Sustainability Unit, and external controls by the

auditing f irm. In 2024, to strengthen and consolidate existing

p

ractices, the Moncler Group launched a project that led to the

def inition of a solid Internal Control System for Sustainability

Rep

orting. This system, developed in response to the requirements

of the European Sustainability Reporting Standards (ESRS),

is a structured set of processes, tools and procedures designed

to ensure the accuracy and completeness of the sustainability

information included in the Group Sustainability Statement

r

equired by the Corporate Sustainability Reporting Directive

(CSRD), as well as compliance with these standards.

The system has been designed in accordance with best practices

in the f ield of internal control, in particular taking

into

account the Internal Control Integrated Framework (CoSO

Framework ICRMS), which represents the benchmark

against which each component of the Moncler Group’s internal

control system is set, maintained and assessed. In addition,

the Internal Control System for Sustainability Reporting operates

in alignment with current regulations and corporate governance

best practices, fully integrating into the Group’s Internal Control

and Risk Management System.

The project, led by the Internal Audit Function with the support

of a specialised external company, included an initial phase

dedicated to the def inition of the governance model of the Internal

Control System for Sustainability Reporting. Subsequently,

the processes, roles and responsibilities, the operating model,

the supporting tools, the information f lows and the methods

of coordination between the Sustainability Unit and the other

corporate functions involved in the process of collecting

sustainability information were identif ied.

At the same time, the scope of application of the Internal

Control System for Sustainability Reporting was def ined

through an analysis based on the potential risk of misstatement

in reporting, developed on four assessment drivers: complexity8,

prioritymateriality of the topic9 ownership10 and potential impact

due to misstatement of the data This analysis has made

it possible to categorise the indicators subject to reporting into

three levels of risk high medium and low and to identify the

Group companies that contribute most signif icantly to reporting

The potential reporting risks relate to any inaccuracy and

incompleteness of the data collected any errors in the

calculation of the indicators and any lack of alignment with

ESRS requirements

Subsequently, with reference to the def ined scope, risk mitigation

controls were identif ied, namely Process Level Control, Entity

Level Control and Group Wide Control, which will be implemented

from 2025.

The risks and controls identif ied have been reported in the

“Risk

& Control Matrix”, which summarizes information related

to control design to assess their ef fectiveness and possible

integration into existing company procedures.

In addition, from 2025 the Internal Audit Function will

implement independent testing on the Internal Control System

f

or Sustainability Reporting, in line with the activities already

carried out for f inancial reporting, with the aim of ascertaining

the adequacy and correct functioning of the controls.

Finally, a summary report will be formalised, detailing the

results of the testing activities, any shortcomings in control

that are found and the relevant corrective actions. The Control,

Risks and Sustainability Committee will regularly review these

results, contributing to the constant improvement of the system.

With the aim of progressively increasing the level of control

over the sustainability reporting process, the Moncler Group

plans to extend the scope of the Internal Control System

for Sustainability Reporting and the number of reference

indicators in the coming years.

8

The level of complexity increases

when the process of collecting data

andor calculating the indicator requires

aggregations estimates or the use of

calculation formulas

9

Depending on Management expectations

analyses conducted on historical data

and industry publications

10

Widespread or concentrated

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