Italian fashion group Moncler has reported a 17 per cent year-on-year jump in revenue to EUR1.8 billion for the first nine months of this year driven by strong Asia sales growth. 

The group’s turnover in the third quarter reached EUR669.7 million, up 7 per cent year on year. While the Moncler label recorded EUR1.4 billion in revenue for the nine-month period, up 21 per cent, Stone Island’s sales were up 3 per cent to EUR301.1 million.

Moncler’s sales in Asia surged 32 per cent during the period to EUR705.3 million from EUR547.9 last year. The company said Japan and South Korea continued to report a solid performance in the third quarter despite a slight normalisation. 

“This proves the strength of both our brands and reflects the deep connection we have built with our customers and our communities all around the globe,” said Remo Ruffini, chairman and CEO of Moncler. 

Sales of Stone Island in Asia increased 14 per cent to EUR57.8 million during the period driven by strong performance of Japan. 

As of September 30, the group has a network of 262 directly-operated Moncler mono-brand stores and 77 directly-operated Stone Island stores. 

“As we approach the most important part of the year, we remain vigilant in light of the ongoing macroeconomic uncertainties, but at the same time confident in the solidity of our brands and our clear strategic vision.” 

Further reading, Kering sales plummet in Q3 as luxury demand stalls.