Moncler Group posts strong revenue growth

For the first nine months, Moncler Group’s revenue of 1,556.6 million euros, increased 32 percent at current exchange rates and 30 percent at constant exchange rates and increased 57 percent compared with the same period of 2019.

In the third quarter, group revenues were 638.3 million euros, up 12 percent compared with the same period of 2021 and up 50 percent compared with the same period of 2019.

Commenting on the results, Remo Ruffini, chairman and CEO of Moncler S.p.A. said: “We are now facing the most important period of the year with confidence and great energy; conscious of the strength of our brands and of the unique and distinctive projects planned for these months."

Moncler brand revenues increase 21 percent

Moncler brand revenues at 1,252.5 million euros, rose 21 percent compared with the first nine months of 2021 and 26 percent compared with the same period of 2019.

In the third quarter, revenues rose 13 percent and 24 percent compared with Q3 2019, driven by the direct-to-consumer (DTC) distribution channel that grew 21 percent and 39 percent compared with Q3 2019.

In Asia (which includes APAC, Japan and Korea), revenues in the first nine months grew 15 percent compared to the same period of 2021 and 36 percent compared with 9M 2019.

Growth in the third quarter was 14 percent with respect to Q3 2021 and 40 percent compared with Q3 2019, driven by the reopening of DOS in the Chinese market, especially in July and August.

In EMEA, revenues in the first nine months increased by 29 percent and 14 percent compared with 9M 2019. In the third quarter, revenue grew 16 percent compared with 2021 and 15 percent compared with Q3 2019, driven by strong demand from both local customers and American tourists. France, Germany, and Italy were the countries that contributed the most to the growth in the third quarter.

Revenues in the Americas in the first nine months grew by 18 percent and 34 percent compared with 9M 2019, with the third quarter at 6 percent compared with Q3 2021 and 16 percent compared with Q3 2019.

In the first nine months of 2022, the direct-to-consumer (DTC4) distribution channel registered revenues of 903.1 million euros with a 27 percent growth compared with the first nine months of 2021 and 32 percent compared with the same period of 2019. The growth of the third quarter was 21percent compared with Q3 2021 and 39 percent compared with Q3 2019, due to the strong performance of European and APAC stores.

The wholesale channel reported revenues of 349.5 million euros, an increase of 7 percent compared with the first nine months of 2021 and 13 percent compared with 9M 2019. The growth of the third quarter was 2 percent compared with Q3 2021.

Review of Stone Island’s performance

Stone Island brand revenues at 304.1 million euros in the first nine months of 2022 were up 23 percent compared with the first nine months of 2021 pro-forma and third quarter revenues were up 8 percent compared with the same period of the previous year, led by the DTC channel.

EMEA, which is the most relevant region for the brand, grew by 14 percent in the first nine months compared with the same pro-forma period of the previous year. In the third quarter revenues in the region grew 1 percent compared with Q3 2021, due to a different timing of shipments in the wholesale channel.

Asia reached 52.4 million euros revenues in the first nine months growing 66 percent, while revenues in the third quarter grew 45 percent compared with Q3 2021, as a result of both organic growth in APAC and the conversion from wholesale to retail of some markets in the region.

Americas recorded a growth of 40 percent and was up 21 percent in the third quarter compared with Q3 2021, driven by the wholesale channel.

The wholesale channel, which represents the most important channel for the brand with 212.6 million euros in the first nine months, grew by 7 percent, while in the third quarter it recorded a decrease of 3 percent. Conversely, the DTC channel recorded 91.6 million euros revenue in the first nine months, up 91 percent compared with the first nine months of 2021 pro-forma, and a growth of 59 percent in the third quarter compared with Q3 2021.