Moncler Group: a 23% increase in revenue for the first quarter

Moncler reports sales of 726.4 million euros, a 23% increase in revenue for the first quarter, driven by the recovery of the Chinese market and solid performance in the EMEA regions. Meanwhile, the group announces the appointment of Robert Triefus as head of Stone Island.

Eva Morletto

By Eva Morletto05 mai 2023

Moncler brand sales increased by +28% to 604.8 million euros (Moncler)

The Italian brand Moncler is currently experiencing a very favorable period, with a 23% increase in revenue for the first quarter of the year, far exceeding analysts' forecasts. Total sales amount to 726.4 million euros, while analysts had predicted 689 million euros.

Several factors have contributed to this impressive growth. Firstly, the recovery of the Chinese market is increasingly stabilizing in this post-covid period. Additionally, steady and solid growth is observed in the EMEA regions (Europe, Middle East, Africa), where sales have been boosted by purchases from foreign tourists, primarily Americans and Koreans. In this region, sales have increased by 29%. In the Middle East and Africa, Moncler benefits from effective communication and a successful marketing strategy, placing its clothing among the "must-have" items for affluent young generations.

Sales in America increased by 9%, while in Asia, the resurgence of Chinese commercial players led to a 32% increase in revenue. For the Moncler brand, quarterly sales increased by 28%, reaching 604.8 million euros, while Stone Island, another iconic brand of the group, recorded sales of 121.6 million euros, a rise of 5%.

The group also announced the appointment of Robert Triefus as CEO of Stone Island. Triefus, previously appointed by Kering in September 2022 as CEO of Gucci Vault and Metaverse Ventures, will "lead the second phase of development dedicated to the strategic evolution of the brand."

Moncler has invested heavily in innovation and the renewal of its image in recent years, particularly by embracing sustainability. In early 2022, the company announced that it would end the use of fur, stating in a press release that the last collection featuring animal fur would be the Fall-Winter 2023 line. The fashion group also announced a collaboration with the Italian animal rights organization LAV, a member of the Fur Free Alliance.

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