Moncler FY22 turnover increases by 25 percent

In 2022, Moncler Group reached consolidated revenue of 2,602.9 million euros, up 25 percent cFX compared to 2021. These results include Moncler brand revenue equal to 2,201.8 million euros and Stone Island brand revenue of 401.1 million euros.

In the fourth quarter, the group reached revenue of 1,046.3 million euros, up 19 percent cFX including Moncler brand revenues of 949.3 million euros and Stone Island brand revenue of 97 million euros.

The company’s EBIT reached 774.5 million euros with a margin on revenues of 29.8 percent compared with 603.13 million euros in 2021 with a margin of 29.5 percent. Group net result rose to 606.7 million euros compared with 411.43 million euros in 2021. The company’s board of directors has also approved a proposal of a dividend distribution of 1.12 euros per share.

Commenting on the results, Remo Ruffini, chairman and CEO of Moncler S.p.A., said: “Today, I am proud to present excellent results, whose value is even more significant if we consider the complicated context in which they were achieved. Looking at 2023, the macroeconomic environment remains complex and characterised by continued uncertainty, but also by many opportunities.”

Highlights of Moncler brand’s performance

In 2022, Moncler brand revenues were up 19 percent cFX growth compared to 2021, while in the fourth quarter, the brand revenue increased 16 percent cFX compared to Q4 2021 and 52 percent compared to Q4 2019.

In 2022, revenues in Asia including APAC, Japan and Korea were 1,029.3 million euros, up 14 percent cFX compared to 2021. In the fourth quarter, Asia grew 12 percent cFX versus Q4 2021 and 56 percent cFX versus Q4 2019, driven by the acceleration of Korea and a solid performance in Japan.

EMEA reported revenues of 804.4 million euros in 2022, growing 29 percent cFX compared to 2021, driven by the performance of the DTC channel - both physical and online, while wholesale was impacted by the conversions of some shop-in-shops and e-tailers. Revenues in the fourth quarter accelerated 30 percent versus Q4 2021 and 52 percent versus Q4 2019, driven by strong local demand. Italy, France and Germany contributed the most to the quarterly growth.

Americas registered revenues of 368.1 million euros in 2022, up 12 percent cFX compared to 2021 and 35 percent cFX versus 2019. In the fourth quarter the region grew 5 percent cFX compared to the last quarter of 2021 and 38 percent cFX compared to Q4 2019, driven mainly by the DTC channel.

In 2022, the direct-to-consumer (DTC) channel achieved revenues of 1,772 million euros, up 22 percent cFX compared to 2021 and 43 percent cFX compared to 2019. The fourth quarter registered 18 percent cFX growth versus Q4 2021 and 55 percent cFX versus Q4 2019, despite the Covid restrictions implemented in Mainland China, mostly in the months of October and November.

The wholesale channel revenues were 429.8 million euros with 6 percent cFX growth compared to 2021 and 14 percent cFX versus 2019. In the fourth quarter revenues generated by this channel were up 1 percent cFX compared to Q4 2021 and 21 percent cFX compared to Q4 2019.

As of December 31, 2022, the network of mono-brand Moncler boutiques counted 251 directly operated stores (DOS), up nine units compared to the previous year and up 14 units compared to December 31, 2021. The brand operates 63 wholesale shop-in-shops (SiS), compared to 61 at September 30, 2022, after the opening in Doha and Hainan Sanya airports in the last quarter of the year.

Stone Island brand’s results in Q4 and FY22

In 2022, Stone Island brand revenues were up 28 percent cFX and 63 percent cFX compared to 2019. In the fourth quarter the brand registered 48 percent cFX growth compared to Q4 2021.

EMEA, which is the most important region for the brand contributing 278.7 million euros of revenues, grew by 16 percent cFX in 2022, accelerating by 21 percent cFX in the fourth quarter versus Q4 2021. Italy, UK and France led the growth of the region in the year.

Asia reached 80.2 million euros revenues growing 101 percent cFX compared with 2021 pro-forma, driven by the conversion into retail of Korea and Japan, while APAC suffered in the fourth quarter due to the Covid-19 restrictions in Mainland China.

Americas registered revenues of 42.3 million euros, up 34 percent cFX compared with 2021 pro-forma, with growth driven by a good performance of the collections in the wholesale channel. The wholesale channel, which continues to represent the majority of the brand revenues, with 252,0 million euros sales in 2022, grew by 7 percent cFX compared with 2021 pro-forma.

The DTC channel reported sales of 149.2 million euros, up 93 percent cFX compared with 2021 pro-forma, driven by the already-mentioned conversion of Korea and Japane and double-digit performance in EMEA and Americas. The direct online channel registered a strong double-digit growth.

The network of mono-brand Stone Island stores was composed of 72 retail stores and 19 mono-brand wholesale stores. In the fourth quarter, Stone Island opened its first DOS under the new format in Chicago.