Moncler Group, the parent company of Moncler and Stone Island, has announced a robust first quarter. The company’s earnings were primarily driven by sales in Asia.
The group registered a substantial $1.03 billion in sales during the first quarter. It reported double-digit growth for both of its brands, leading to an overall year-on-year increase of 12 per cent.
In Asia, Moncler’s sales grew by an impressive 22 per cent. Moncler attributes this significant increase to strong performances in China and South Korea. However, the sales in Europe, the Middle East, and Africa experienced a minor dip of one per cent year-on-year.
The Moncler brand was the group’s star performer with $900 million in sales. This was propelled by a 14 per cent rise in direct-to-consumer traffic. Stone Island, on the other hand, contributed a solid $134 million to the total sales.
The Asian market continues to escalate its share of Moncler’s brand revenue. It now represents 56.5 per cent of total sales, marking a 3.7 per cent annual increase.
Remo Ruffini, executive chairman of Moncler Group, expressed the company’s anticipation for the future. He stated that the first quarter not only demonstrated strong revenue performance but also the depth of relationships that their brands continue to build with their global community.
Despite a global context shaped by conflicts and instability, both Moncler and Stone Island have exhibited considerable energy and cultural relevance.
Ruffini also touched on the appointment of Bartolomeo Rongone as the group’s CEO that was announced earlier this year. He highlighted this as part of the group’s “next phase.” He further reiterated the group’s commitment to remain adaptable and responsive, guided by a clear strategic vision, in the face of an increasingly complex external environment.
What were the first quarter sales for Moncler Group?
Moncler Group reported $1.03 billion in sales during the first quarter.
Which market led the sales for Moncler Group?
The Asian market led the sales for Moncler Group, with a 22 per cent growth.
How does the Moncler brand perform in comparison to Stone Island?
The Moncler brand outperformed Stone Island, with a contribution of $900 million in sales, as compared to Stone Island’s $134 million.
