Luxury down jacket brand Moncler reported strong double-digit sales growth in the first half of 2018, on the back of solid revenue gains in China and Japan.
The Milan, Italy-based brand said consolidated revenues reached 493.5 million euros for the six months ended June 30, an increase of 27% (at constant exchange rates), compared to 2017.
In outlining the results, Moncler’s CEO, Remi Ruffini, hailed “major growth across all distribution channels—retail, wholesale and digital—and across all markets.”
The group’s retail distribution channel increased to 376.8 million euros, up 33%, while comparable sales jumped 27%. Wholesale saw a 12% uptick.
For the six months, net income climbed 47% to 61.6 million euros for a margin of 12.5%, while operating profit increased 35% to 85.7 million euros.
In Italy, revenues rose 9%, mainly driven by the strong growth of the retail channel, while in Asia and ROTW, revenues leaped 42, helped by Japan, which significantly accelerated in the second quarter, thanks to the launch of ‘7 Moncler Fragment Hiroshi Fujiwara’.
Moncler said it continued to register “very good performances” in China, which saw double-digit organic growth, following the Chinese government decision to reduce import duties.
From the beginning of July, Moncler reduced its prices in China by 3.5% on average, it added.
Revenues in Korea recorded a solid increase, with a sales acceleration in the second quarter, “mainly due to the organic growth of the existing stores’ network.”
In the EMEA marker, Moncler’s revenues grew 17%, while the Americas grew 29%, said the company.
Moncler currently operates 209 retail directly operated stores globally, with 65 shop-in-shops.
It operates some 84 points-of-sales in Asia alone.