Italian luxury group Moncler reported revenue of 1.23 billion euros ($1.34 billion) for H1 2025, flat YoY and up 1% at constant exchange rates. Net profit declined 15% to 153.5 million euros ($167 million), while operating profit dropped 13% to 224.8 million euros ($245 million), with margins narrowing from 21% to 18.3%. The company attributed the decline to changes in marketing investment timing and reduced global tourist flows. By brand, Moncler revenue remained steady at 1.04 billion euros ($1.13 billion), while Stone Island saw a 1% decline to 186.7 million euros ($204 million). Regionally, Asia posted 2% growth to 526 million euros ($572 million), with stable domestic spending in China. Tourist spending accounts for roughly half of European sales.