Moncler's shares fell more than 7% after the fashion group flagged a slowdown in sales growth, underscoring its sensitivity to tourism disruptions.

The Italian company projected a 5% organic rise in revenue for the second quarter, down from 12% in the first three months. In the European region, sales were 8% lower year‑over‑year, mainly because of softer tourist flows, especially from Asian customers.

Global air travelRotation has been squeezed by the conflict in the Middle East, a key hub between Asia and Europe. Bernstein analysts warn that this squeeze will likely reinforce Moncler's seasonal trading pattern, meaning the brand may not see a pickup in spending on its iconic coats until the autumn.

Overall, the downturn reflects broader challenges facing high‑end fashion amid shifting travel patterns and geopolitical tensions.