Moncler Group, the owner of Moncler and Stone Island, has reported a strong first quarter, with sales in Asia leading the way.
With US$1.03 billion in sales for the period, the group said it saw double-digit growth across both of its brands, resulting in a 12 per cent overall year-on-year increase.
In Asia, Moncler brand sales grew by 22 per cent; Moncler said this was led by strong performances in China and South Korea. Sales in Europe, the Middle East, and Africa fell by one per cent year-on-year.
The Moncler brand was its top performer; $900 million in sales was led by a 14 per cent increase in direct-to-consumer traffic. Stone Island contributed the remaining $134 million.
Sales in Asia continued to grow its share of Moncler’s brand revenue. Now accounting for 56.5 per cent of total sales, a 3.7 per cent yearly increase
“What clearly emerged in the first quarter of this year goes beyond a strong revenue performance: it is the depth of the relationships that our brands continue to build with their communities around the world,” Remo Ruffini, executive chairman of Moncler Group, said.
“In a global context shaped by conflicts and instability, both Moncler and Stone Island have shown strong energy and cultural relevance.”
Ruffini mentioned the appointment of Bartolomeo Rongone as the group’s CEO – which was announced in January – as he spoke of the group’s “next phase”.
“In an increasingly complex external environment, we remain committed to staying agile and responsive, guided by our clear strategic vision,” he added.
