Italian luxury group Moncler has reported a significant increase in annual sales, exceeding forecasts and demonstrating the resilience of luxury fashion brands. The company’s consolidated revenues reached €2.603 billion ($2.76 billion), a 25% increase at constant exchange rates. This impressive growth was attributed to strong contributions from Moncler’s eponymous brand and its acquisition, Stone Island. Net profit also rose to €606.7 million ($642.6 million), compared to €411.4 million in the previous year. These positive results were further bolstered by a one-off tax benefit for the Stone Island brand.
Moncler’s success was driven by various factors, including its popular puffer jackets and strong local demand in Italy, Germany, and France. The EMEA region witnessed the highest sales growth, with a 30% increase year-on-year. However, sales in Asia faced hurdles due to China’s strict lockdown policies in October and November. Nevertheless, the relaxation of restrictions in December resulted in a recovery in store traffic.
Chairman and Chief Executive Remo Ruffini expressed satisfaction with Moncler’s performance in 2022, which coincided with the company’s 70th anniversary. Looking ahead to 2023, Ruffini acknowledged the uncertainties of the macroeconomic environment but also highlighted numerous opportunities.
In line with its positive results, Moncler proposed a dividend payment of €1.12 per share, nearly double the amount paid in the previous year. This increase reflects the company’s confidence in its financial position and future prospects.
Moncler’s acquisition of Stone Island has proven to be a strategic move, contributing to its overall growth and profitability. The tax benefit included in the net profit figure for 2022 was related to the tax value realignment of the Stone Island brand.
The strong sales performance of Moncler during uncertain times showcases the appeal and resilience of luxury fashion brands. Despite the challenges posed by the pandemic and global economic fluctuations, Moncler has managed to exceed market expectations. The company’s focus on quality, innovation, and iconic designs continues to attract loyal customers and drive sales growth.
As Moncler enters 2023, it remains attentive to the ever-changing market landscape and ready to seize opportunities. With its strong brand reputation and commitment to excellence, Moncler is well-positioned to navigate the complexities of the luxury fashion industry and maintain its upward trajectory.
Useful links:
Moncler Official Website
Stone Island Official Website
