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Moncler Group | Annual Report 2024 Board of Directors’ Report 262  | ’

[S2 SBM–3] Material impacts, risks and opportunities

and their interaction with strategy and business model

The value chain of the Moncler Group includes, in the upstream

phase, the workers of the supplier companies (including those

involved in the production of raw materials, façon manufacturers,

f inished product suppliers, and service providers) and, in the

downstream phase, the workers of the business partners of the

wholesale channel. As part of the double materiality process,

potential negative impacts and risks (the assessments did not take

into account the mitigation actions implemented by the Group)

have been identif ied mainly among workers in the upstream phases,

namely those within the supply chain.

The Moncler and Stone Island supply chains ref lect the

complexity typical of the fashion industry and are characterised

by a network of suppliers with whom the Group maintains direct

contractual relationships (Tier 1) which, in turn, collaborate

with

other operators (Tier n). During 2024, the number of Tier 1 suppliers

amounted to 5891, showing a slight decrease compared

with

the previous year due to increasing synergies and the partial

internalisation of production.

Suppliers (Tier 1 and Tier n) are divided into four main

categories: raw materials, façon manufacturers, f inished products

and services.

Raw material suppliers primarily provide fabrics, yarns, down,

leather and production accessories (buttons, zippers, ribbons,

elastics, etc.). Fabrics mainly come from Italy, Japan, South Korea,

China and France. Suppliers of yarn and production accessories

are mainly Italian, while the down suppliers are European, North

American and Asian.

Façon manufacturers are suppliers that employ workers with

strong technical expertise to which the Group entrusts the

production of f inished products or intermediate phases of processing

(dying, embroidery, etc.), while providing them with all the raw

materials needed. This category includes dye houses that perform

garment-dyeing, to which Stone Island directly entrusts this

process in Italy. The entire manufacturing process is carefully

monitored by Group technicians who verify its compliance

with the required standards through rigorous, ongoing f ield audits.

In particular through this process outerwear trousers skirts

dresses all tricot knitwear and some cutandsewn knitwear

are produced Façon manufacturers are mainly located in Italy

and Eastern Europe areas where long manufacturing tradition

guarantees very strong technical expertise and adequate production

capacity In particular Italy is characterised by a strong expertise

in very complex and unusual processes

Finished products suppliers are suppliers whose workers

having received the technical design of the products are responsible

for the creation of the garment including the raw materials

sourcing phase according to the Group standards in addition

Moncler directly provides its f inished products suppliers with some

key raw materials such as down, nylon and logoed materials.

During garment production there is constant interaction between

the supplier and the Group experts, who make on-site visits and

scrupulously supervise the process, to ensure that the f inal

product

meets the expected high level of quality. Some cut-and-sewn

knitwear (mainly t-shirts and polo shirts), some soft accessories

(such as hats and gloves), shoes and bags, and small leather

goods are mainly produced in this way. In particular, suppliers

of cut-and-sewn knitwear are based in Europe and Türkiye;

shoes are made by suppliers in Asia and bags and small leather

goods are made by European suppliers, mainly Italian.

Service providers support the Moncler Group in its pattern

making, prototyping and quality control processes and are mainly

based near its corporate sites.

As for indirect suppliers, they are partners that provide goods

and services not directly related to product manufacturing. This

category includes construction companies and security,

cleaning,

porterage and maintenance, logistics and consulting services.

The heterogeneity of suppliers, their geographical distribution,

the nature of certain processing and services, and the seasonal

variability of production could lead to potential negative impacts

on workers in the supply chain on issues related to human rights

(such as forced or child labour, the right to collective bargaining, etc.),

inadequate labour standards (management of contracts and working

hours, wages, occupational health and safety systems, etc.) and

employment stability. These impacts could translate into potential

reputational risks for the Group.

To address these challenges, the Group has been dedicating

signif icant resources for years to the prevention and monitoring

of potential violations of applicable laws, as well as its own standards,

along the supply chain. In this context, the traceability process

has been important enabling an increasingly detailed understanding

of the supply chain while simultaneously establishing a structured

due diligence system, with a particular focus on those who might

be in situations of greater vulnerability.

1

Excluding suppliers with sales order of

less than 1000 Euros per year

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