Italian luxury brand Moncler has announced a 12% increase in sales for the third quarter, driven by impressive growth in Europe and a rebound in China as COVID-19 restrictions eased. This surge in sales has propelled the company’s revenue for the first nine months of the year past 1.5 billion euros ($1.51 billion), setting them up for a successful winter season.
Despite concerns over inflation and the potential for a recession, the demand for luxury goods has proven to be remarkably resilient. American shoppers have taken advantage of the strong dollar in Europe, while the Chinese market has shown impressive recovery from the impact of COVID-19.
In the third quarter alone, Moncler recorded revenue of 638.3 million euros, slightly surpassing the consensus forecast of 637 million euros set by analysts. The flagship Moncler brand performed exceptionally well, generating 528.2 million euros in sales, a 13% increase compared to the previous year and above the estimated 521 million euros. The recently acquired brand Stone Island, while still experiencing growth, saw its revenue rise by 8% to 110 million euros, falling slightly below the estimated 116 million euros.
Moncler’s strong sales performance is a testament to the luxury market’s ability to weather challenging economic conditions. As consumers continue to prioritize quality and prestige, high-end brands like Moncler are well-positioned to thrive. With its impressive results in Europe and China, Moncler is poised to take full advantage of the upcoming winter season and maintain its upward growth trajectory.
Useful links:
– For more information on Moncler’s products and history, visit their official website here.
– To stay updated on the latest luxury fashion news, trends, and insights, check out the Business of Fashion website here.
