Thanks to the e-commerce boom and strong sales in China, Korea, and North America, luxury brand Moncler has experienced double-digit sales growth in the first quarter of the year. Despite a challenging 2020, Moncler’s revenue reached 365.5 million euros with a sales increase of 21% at constant exchange rates. The brand’s owned stores saw a sales increase of 22%, while multi-brand stores had a slightly lower growth of 17%. Moncler’s success can also be attributed to its e-commerce results.
However, CEO and President, Remo Ruffini, remains proactive and recognizes the importance of the coming months. Ruffini, who has been in office since 2003, emphasizes the many ongoing projects within the company, including the recent acquisition of Stone Island. Ruffini aims to strengthen customer relationships both in physical stores and digital spaces.
Geographically, Moncler’s sales disparities are clear. With a 53% increase in sales, driven by China and Korea, Asia has shown strong growth. North America has also grown by 34%. In contrast, the EMEA region, including Europe, the Middle East, and Africa, experienced a 15% decrease in sales due to strict COVID-19 measures and the absence of tourists. Even Italy saw a 16% decrease in sales compared to the same period in 2019.
Moncler’s success can be attributed to its strong presence in key markets like China, Korea, and North America, as well as its focus on e-commerce. The company has capitalized on the shift towards online shopping by investing in technology and marketing and expanding its e-commerce operations. The CEO’s determination to drive growth reflects Moncler’s commitment to innovation and keeping up with market trends. The recent acquisition of Stone Island showcases their efforts to expand their product portfolio and appeal to a wider customer base.
The discrepancies in sales across different regions highlight the ongoing challenges faced by luxury brands in the current global landscape. While Asia and North America continue to thrive, Europe and other regions face difficulties due to COVID-19 restrictions. As countries gradually reopen and travel restrictions ease, it is expected that sales in these regions will recover.
In conclusion, Moncler’s strong performance in the first quarter demonstrates its resilience and ability to adapt. With a proactive approach to customer engagement, investments in digital capabilities, and strategic acquisitions, the company is well-prepared to seize future opportunities and drive long-term growth. The CEO’s acknowledgment of the crucial months ahead reflects Moncler’s readiness to face challenges and continue its successful trajectory.
Please find additional information on Moncler’s Q1 results here: Moncler Reports Double-Digit Sales Growth in Q1
For more details on Moncler’s recent acquisition of Stone Island, please visit: Moncler Acquires Stone Island
