Fashion Houses Review

Italy · Fashion business

Stone Island shifted from wholesale to majority direct sales in four years

Direct-to-consumer sales made up 55.1% of Stone Island’s 2025 revenue, up from 37.2% in 2022. Its sibling Moncler had a far more direct-heavy mix, at 86.7% in 2025.

Sources checked

Fashion Houses Review Editorial Team

Luxury distributionDirect and wholesale shares by brand and year

Direct share

Shared scale · 0% to 86.7%

  • Stone Island, 202237.2%
  • Stone Island, 202342%
  • Stone Island, 202452%
  • Stone Island, 202555.1%
  • Moncler, 202486.1%
  • Moncler, 202586.7%

Both views use the same scale. Switch channels to see how Stone Island’s sales mix shifted.

Source 1 Source 2

Stone Island crossed the halfway mark in 2024

The direct channel rose from 42.0% in 2023 to 52.0% in 2024. In 2025 it reached EUR 226.4 million while wholesale reached EUR 184.8 million. That combination moved the direct share higher even though total revenue changed by only about EUR 9.6 million. Source 1 Source 2

The two brands started from different positions

Moncler’s 2025 direct channel generated EUR 2.36 billion. Its wholesale business was a much smaller fraction of brand sales, at 13.3%, yet brought in EUR 361.3 million, nearly twice Stone Island’s wholesale revenue. Source 1

A share is a distribution measure

The company counts its directly managed retail and online sales in the direct channel. Wholesale revenues include sales through third-party arrangements. A shift in the split can reflect channel management as well as consumer demand. Source 1

A store count is a second lens

At the end of 2025 the group reported 295 directly operated Moncler stores and 95 for Stone Island. Those snapshots help describe the retail footprint. The channel revenue figures cover the full year and include direct online sales. Source 1

Sources

Open the data and source notes