Moncler Group | Annual Report 2024 Board of Directors’ Report 80 Moncler Group | Annual Report 2024 Board of Directors’ Report 81

Business outlook

Entering 2025, the global macroeconomic context and operating

environment remain volatile and unpredictable. In this uncertain

landscape, the Group remains focused on operational agility

and responsiveness, while continuing to invest in its organization,

talent, and distinctive brands.

Leveraging its unique heritage as well as its commitment

to innovation and disruptive creativity, the Group is well-

positioned to adapt to evolving market dynamics, aiming

to

shape new opportunities and create long-term value.

These are the main strategic lines of development.

Strengthening of all Moncler brand dimensions

globally, all year around

During 2025, Moncler will continue to reinforce its three

complementary brand dimensions — Moncler Grenoble,

Moncler Collection and Moncler Genius — through distinctive

events and tailored marketing strategies focused on unlocking

their respective potential across all regions. Moncler Grenoble,

the dimension most closely tied to the brand DNA, will continue

to elevate its signature blend of performance and style, with

dedicated marketing initiatives and a more complete collection

suitable for all the seasons of the year. This approach will further

authenticate this core dimension and f irmly assert Moncler's

leadership as the most authentic luxury brand for the outdoors.

Moncler Collection will continue to explore ways to elevate

the product proposition, re-imagine iconic pieces, and enhance

the brand’s ability to serve its customers all year around through

relevant collections and concepts. Following the monumental

event held in Shanghai in October 2024, Moncler Genius will

maintain its role as a brand recruiter and powerful connector

with new communities, embracing all forms of creativity through

dedicated activations and product launches.

Further evolving the Stone Island brand legacy,

with the product as absolute protagonist

2024 marked the beginning of Stone Island’s next chapter of

evolution with the unveiling of its The Compass Inside

manifesto and the launch of its f irst global advertising campaign

In 2025 Stone Island will continue the journey toward

its full potential by further driving global brand awareness

through a more intentional marketing approach aimed at driving

consideration among new target segments This will be achieved

by amplifying the brand DNA which is deeply rooted in a unique

identity and a value matrix grounded in the culture of research

and experimentation The brand narrative will continue

to position the product as the absolute protagonist aiming

to elevate the product of fering by expanding core categories

and maximizing desirability through iconic pieces and

subcollections while reinforcing the relevance of the totallook

approach as a distinctive signature The brand will also continue

to enhance its distribution network, implementing a highly

selective omnichannel and consumer-centric strategy across all

touchpoints to deliver an authentic and elevated client experience.

Sustainable and responsible growth

Moncler Group believes in a sustainable and responsible

development according to shared values that are ref lective

of stakeholder expectations and consistent with the Group’s

long-term strategy. This approach is based on the commitment

to set increasingly ambitious goals as well as on the awareness

that every action has an impact on the society and the environment

in which we operate. In 2025, Moncler remains committed

to implement the actions and projects necessary to pursue the

sustainability objectives published in the 2020–2025 Plan.

The f ive strategic priorities of the Sustainability Plan are: climate

change and biodiversity, circular economy and innovation,

responsible supply chain, enhancement of diversity and support

for local communities. Building on this solid foundation, the Group

aims to continue its path of improvement by further integrating

sustainability topics into its way of doing business.

Other information

Research and development

Since the Moncler Group’s success depends in part on the image,

prestige and recognition of the brands, and in part on the ability

to manufacture a set of collections in line with market trends,

the Group conducts research and development in order to design,

create and implement new products and new collections. Research

and development costs are expensed in the income statement

as they occur on an accrual basis.

Reconciliation between net result and

shareholders’ equity of the parent company

and the Group’s amounts

The reconciliation between the Group’s net result and

shareholders’ equity at the end of the period and the parent

Company Moncler’s S.p.A. net result and shareholders’

equity is detailed in the following table:

Secondary off ices

The Company does not have any secondary of f ices.

RECONCILIATION BETWEEN RESULT

AND NEW EQUITY OF THE PARENT

AND THE GROUP

Result 2024 Net Equity

31/12/2024

Result 2023 Net Equity

31/12/2023

EUR/000

Parent Company balance 651,886 1,783,479 195,735 1,398,588

Inter-group dividends (606,217)0(50,200)0

Share of consolidated subsidiaries net

of book value of relates equity interest

657,313 1,567,954 551,747 1,516,342

Allocation of the excess cost resulting

from the acquisition of the subsidiaries

and the corresponding Equity

0 605,298 0 605,298

Elimination of the intercompany prof it

and losses

(61,500)(284,933)(84,360)(223,433)

Translation adjustments 0(41,167)0(40,295)

Effects of other consolidation entries (1,886)(44,051)(991)(42,165)

TOTAL GROUP SHARES 639,596 3,586,580 611,931 3,214,335

Minority interest 0 88(29)94

TOTAL 639,596 3,586,668 611,902 3,214,429