Moncler nine-month sales gain 15%, double-digit growth in global markets
today Oct 25, 2017
Unmoved by geopolitical instabilities and a touchy luxury retail market, Moncler has remained on track for the first nine-months of the year. The Italian down jacket and luxury apparel brand reported strong growth in the first-half of the year, with double-digit gains in all geographic regions, with the exception of Italy, where sales still rose a satisfying 4%
For the nine-month period ending September 30, the company recorded revenues of 736.8 million euros, up 15% on a reported basis (16% on constant exchange rates), compared to 639.3 million euros for the same period last year, according to a company statement.
Group revenues were supported by strong sales in the first nine months, particularly in Asia, which witnessed 19% growth to 257.1 million euros. Japan, South Korea and China all performed well. As did Hong Kong, thanks to the relocation of the Moncler Harbour City store to Canton Road.
Elsewhere, sales in Europe -- excluding Italy -- increased 18% (up 21% on constant exchange rates), thanks to "solid growth across retail and wholesale networks," most notably in France and the UK.
In the U.S., sales gained 14%, thanks to the wholesale distribution channel supplemented by a growing share in retail sales with new store openings. However, Italy saw the slowest gains, up 4%, penalised by the temporary closure of the Milan flagship store on Via Montenapoelone. The store recently reopened its doors, as Moncler's largest global site, following major renovations.
Over the first nine-months of the year, the down jacket maker said 65% of sales took place across its 195 namesake stores, an increase of 19%, while wholesale revenues brought in 35% of sales, up 8%.
Since the beginning of the year, Moncler has opened five new standalone stores and six shop-in-shops (wholesale), increasing its direct-operated retail sites to 48. Overall, the brand boasts 243 points of sale globally. During the third quarter, Moncler also inaugurated its debut store in Kazakhstan, in Almaty.
In a press release, CEO Remo Ruffini commented on his firm's "important new projects, which will bring great value to Moncler brand."
"Today, the customer -- especially in the luxury goods sector -- is evolving rapidly and is on a different trajectory compared to the past, breaking away from established patterns," Ruffini said.
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