The Moncler group shows strong growth
Italian group Moncler's first quarter figures confirm strong sales growth, up 60% on the same period in 2021 to €590 million. The Stone Island brand, acquired by the group at the end of 2020 (and consolidated at April 2021) jumped 32% in the first quarter of 2022.
By Cristina D’Agostino05 mai 2022
The Moncler group has reported a net increase in results for the first quarter of 2022, driven by a 30% increase in sales compared to 2021 of its iconic Moncler brand, which accounts for 80% of the group's total revenues, at €473 million. The brand recorded its strongest growth in Europe (EMEA) at +48%, followed by the Americas with +36% growth and finally Asia with sales up 15% in the first quarter, despite the impact of the pandemic which forced the closure of 30% of the Moncler shop network in China. With the DTC (Direct To Consumer) network accounting for nearly 80% of Moncler's overall balance sheet, it is easy to understand the impact of these closures on results.
But it is the Stone Island brand - acquired by the group at the end of December 2020 from Rivetex (70%) and whose sale was consolidated in April 2021 by the purchase of the remaining 30% from the Temasek company - which also enabled the group to post good results. In the first quarter, sales of the outdoor clothing brand jumped by 32% to 116 million euros, particularly driven by the transformation of the wholesale distribution network into a retail network in Korea, the leading Asian market for Stone Island.
Moncler S.p.A. Group CEO Remo Ruffini remained cautious in announcing these figures in his official statement: "The year 2022 has started with important results for our Group. During the quarter, revenues increased by 60% compared to the previous year, with a strong contribution from our two brands. (...) Yet, as I often say when I comment on the first quarter, the year has only just begun. Especially as the health emergency continues in some parts of the world and the conflict in Ukraine continues. However, I remain optimistic about the future. We have brands with great potential and uncharted territory (...)."
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