Moncler reported strong first-quarter revenue of 880.6 million euros ($1.04 billion), a 12% increase from last year, as Asian shoppers offset weak European tourism. The Italian luxury group, which owns the namesake ski-apparel brand and Stone Island, beat analyst expectations of 832.7 million euros. The performance bucks the broader luxury sector's slowdown.

Moncler's namesake brand saw particularly strong results in Asia, with sales jumping 22% in the region. Chinese and South Korean consumers drove growth, with both local shoppers and tourists contributing to the gains. Stone Island also performed well in Asia, posting a 25% sales increase over the quarter. The company said all Asian markets grew sequentially.

The results highlight how Moncler has successfully navigated challenges in European tourism-dependent markets by leaning on Asian demand. This geographic diversification strategy appears to be paying off as the company maintains momentum despite headwinds in traditional luxury markets.