Moncler Group | Annual Report 2024 Board of Directors’ Report 242 Moncler Group | Annual Report 2024 Board of Directors’ Report 243

Within the Leadership Academy, function managers and regional

Presidents are involved in activities designed to strengthen team

cohesion and align the leadership with the Group’s evolving

challenges. In 2024, an event was organised in collaboration with

the IMD Business School, focusing on two key topics:

Future Readiness, to provide strategic tools to anticipate market

changes, and Inclusive Leadership, aimed at exploring the importance

of a psychologically safe and inclusive environment as a key

element for innovation and growth.

Additionally, within the Leadership Academy, a training course

of about 600 hours was developed, specif ically for employees

with coordination tasks at the “smart factory” in Trebaseleghe

(Padua), focusing on communication, feedback, motivation

and collaboration.

In parallel with the Leadership Academy training programs,

the Group’s commitment to involving employees in development

paths continued, including:

•

MONCampus, an initiative designed to accelerate the

growth of young talent at Moncler and Stone Island,

by of fering an interactive global development pathway

for skills enhancement and knowledge exchange.

In 2024, the programme was expanded through a collaboration

with POLI.Design of the Politecnico di Milano, which

introduced new content, and through the international

expansion of the initiative, with the involvement of 23

participants from all the Regions in which the Group operates.

The 2024 edition saw the assignment of four strategic

projects by top management, to which participants have

to apply the skills acquired in real business contexts.

MONCampus’ leadership and innovation courses, including

Leading International Projects and Design-Driven Innovation,

provide additional training support. The programme will

conclude in July 2025 with the presentation of the projects

to the leadership.

MAKERS LAB a global initiative that aims to promote the

transfer of technical skills among Moncler and Stone Island

employees In the programme internal experts Subject

Matter Experts or SMEs share their knowhow on processes

and tools with colleagues from various functions encouraging

crossfunctional learning

Stone Island experts were also involved in 2024 fostering

a mutual skill exchange between the two Brands

This year over 1100 hours of professional development were

delivered reaching more than 650 employees globally

MATE a specialized threeyear training program for new

graduates from technical and vocational schools of fering

advanced skills in sample production prototyping

and quality control, with a focus on down jacket creation.

The fourth edition of MATE was launched in 2024, involving

11 new participants and over 19,000 training hours.

The programme has also been extended to Stone Island with

the Stone Island Atelier Project. At the same time, the Pattern

Making School in Romania, active since 2018, continues

to train young local talents in modelling and development,

strengthening local skills and productivity.

In addition to specialized programmes, the Moncler Group

continues to of fer mandatory training courses. In 2024,

the e-learning module on Legislative Decree 231, which makes

the Group’s ethical principles accessible to all employees,

was updated. In Italy, the Finance functions of Moncler and

Stone Island have received specif ic training on Tax Crimes,

Market Abuse and Money Laundering, while a new mandatory

global anti-corruption course was introduced. The course

on GDPR and cybersecurity was also updated to protect company

data. Mandatory training according to Legislative Decree

81/2008, to raise employees’ awareness of occupational risks and

promote a safe and compliant working environment,

has continued at the Italian and Romanian sites.

Courses on topics such as human rights, DE&I and

environmental sustainability were also of fered. A global

DE&I Essentials module to promote an inclusive culture was

launched

in 2024, along with a module on Unconscious Bias

to raise awareness of the need to overcome this.

In 2024 e-learning modules on workplace harassment were

delivered in the Americas Region and in Japan. Lastly, in the

environmental f ield, the new global course designed to raise

employees’ awareness of global environmental challenges,

on topics such as climate change, biodiversity, water resource

management, etc., has been published.

Development

To support the enhancement and development of people’s potential,

the Group uses the PIUMA Leadership Model an annual

performance evaluation system that measures the skills people

use to achieve the assigned targets Based on a robust methodology

it measures performance by assessing the level of knowledge

problemsolving ability and impact on the business and leadership

then comparing it with the standard expected for the specif ic

role This allows to verify the level of adherence of the individual

to their role def ining potential training and development plans

The assessment is based on values of which every employee

must be an ambassador and promoter integrity passion harmony

with company culture ability to build trustbased relationships

global vision and the drive towards innovation Specif ically

one of the dimensions in which each employee is evaluated

is a specif ic area for assessing the compliance of their behaviour

with the principles of the Group’s Codes of Ethics.

The evaluation system, which aims to improve business

performance, has a medium-to-long-term perspective and

is therefore one of the key processes for managing and developing

people, def ining succession plans and retaining the best talent

laying the basis of the salary review process, ensuring equity,

equal opportunities, meritocracy and market competitiveness.

The employee self-assessment is an important step in the

evaluation process. It enables employees to compare

the perception of their performance with that of the Company.

In the assessment process, each manager evaluates his or her

staf f using a digital platform. In addition, where applicable,

the functional manager is also involved in the assessment.

This assessment is subsequently circulated to and f inalised

within a committee of senior managers, with the aim of ensuring

the comparison and calibration of the assessments, thus

making them even fairer and more objective. The process

ends with the sharing of the assessment between the manager

and the employee, in a conversation, in which the areas

for improvement identif ied are discussed, the results achieved

are emphasised and an action plan to strengthen future

performance is shared. The process is thus structured to include

various steps in order to make the performance evaluation

system multidimensional.

The assessment process is applied to all organisational roles,

both corporate and retail, at a global level, including the worker

population in Romania.

In addition to this structured annual evaluation process,

the Group promotes continuous processes of agile conversation

between managers and employees throughout the year, allowing

them to give and receive constant feedback to raise awareness

and review objectives and obstacles to achieving performance.

Remuneration

To ensure the correct application of its remuneration policy,

the Group monitors that entrylevel salaries without dif ferences

between men and women are equal to or above the minimum

required by law or collective bargaining in all the countries in which

it operates This commitment is also conf irmed by the analysis

on living wage carried out annually for the entire corporate

population including the production site in Romania according

to the Fair Wage Network methodology see also pages 264 267

In addition the Group implements an annual remuneration

review process to reward the performance of its employees

promoting a culture based on meritocracy In line with its fair

and transparent approach the Group is also committed

to obtaining by 2025 the EDGE certif ication from an impartial

third party relating to pay equity for the Moncler brand globally

after achieving it at the Italian level

The remuneration package for 85% of the eligible population

includes a variable component, properly balanced with to the f ixed

component and the individual contribution to the Company’s

strategic objectives.

The variable component may be short-term (Management

By

Objectives or MBO) for the store managers and corporate

population; a sales commission for retail staf f, at both team and

individual level; or medium/long-term (Long Term Incentive or LTI).

The MBO system, in particular, is mainly based on annual

quantitative objectives of an economic and f inancial nature,

primarily Group consolidated EBIT, and on qualitative objectives

of signif icant strategic and operational importance for the

relevant function. These also include achieving the targets set out

in the Strategic Sustainability Plan, ref lecting the Group’s

commitment to responsible development.

For each benef iciary, the MBO system establishes

a combination of objectives:

•

collective objectives, related to the economic and f inancial

performance of the Group;

•

individual and team objectives, focused on the operational

and strategic performance of the department to which

the individual belongs involving several colleagues;

•project objectives, related to the achievement of milestones

relevant to the specif ic function.

This system is applied to professionals, managers, executives

and senior executives at the corporate sites, as well as to store

management team. The mechanism encourages the achievement

of outstanding results, providing for incremental rewards

for overperformance, where the assigned objectives are achieved

at a level above target.

Lastly, the MBO system aligns performance objectives with

risk management, as identif ied by Enterprise Risk Management

(ERM), fostering a corporate culture orientated toward risk

assessment and management as an integral part of the employee

decision-making process.

Regarding the inclusion of Sustainability Plan commitments

within the variable component of the remuneration package

specif ic sustainabilityrelated objectives are assigned to each

employee of the eligible population relating to their role

or area of competence

With regard to the Chairman and Chief Executive Of f icer

Executive Directors and strategic managers the MBO system

focuses on achieving the objectives of the Sustainability Plan def ined

for the year These objectives also include areas such as f ighting

climate change and protecting biodiversity circular economy

responsible sourcing valuing diversity supporting local communities

as well as people engagement objectives and Diversity Equity

Inclusion DEI topics see also pages 104 154