Moncler sees Q3 revenues rise 55% year-on-year
Luxury fashion company Moncler Group, owner of the Moncler and Stone Island brands, has reported Q3 sales up 55% year-on-year to €555.5m (£469.78m), a 33% increase compared with the equivalent period in 2019.
Revenues for the Moncler brand were up 27% to €455.3m (£384.7m) in Q3 compared to the same period in 2020, and up 10% compared to 2019. That was driven by “outstanding growth” of direct-to-consumer sales particularly in China, Korea and the USA, as well as a marked improvement of sales in Europe, the Middle East and Africa.
The Stone Island brand, which the Moncler Group acquired at the end of 2020, saw revenues reach €100.1m (£84.6m) in the quarter, with “very good performance across all markets and channels”.
Remo Ruffini, Chairman and CEO of Moncler, said: "This has been an important quarter thanks to the results achieved, but is also fundamental as we prepare for the final months of the year, which are always crucial. This has been a quarter full of projects and we have achieved many of the goals we set ourselves. We unveiled Moncler Genius 2021 with both a digital and physical show. This was an innovative format that saw five cities connected, 11 designers and creative concepts presented and more than 30 linked digital platforms.
"We also completed the internationalisation of Moncler’s worldwide ecommerce business, we opened important flagship stores in the world, and with Stone Island we launched a collaboration with New Balance. We are preparing for the coming months in the best possible way, with the clear objective of continuing to strengthen our group’s presence in the luxury segment."